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NewsBreak: U.S. Oil Inventories Rose by 1.1 Million Barrels Last Week: EIA

Investing.com

Investing.com - Crude stockpiles rose unexpectedly last week, the U.S. Energy Information Administration said Wednesday.

The EIA said oil inventories rose by 1.06 million barrels for the week ended Sept. 13, compared with expectations for a drawdown of 2.5 million barrels.

Gasoline inventories rose by 780,000 barrels versus forecasts for a drop of 540,000 barrels. Distillate stockpiles increased by 440,000 barrels, compared with forecasts for a rise of 535,000 barrels.

WTI futures fell 1.5% to $58.17, paring a loss of 2% just before the report was released.

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