The U.S. Energy Information Administration reported on Thursday that "crude oil inventories rose by 4.5 million barrels as of May 26, compared to analysts' expectations for a decrease of 1.4 million barrels." The administration noted that "inventories at the delivery point in Oklahoma increased by 1.6 million barrels last week."
It added that "U.S. refinery crude consumption increased by 96,000 barrels per day, and refinery utilization rates rose by 1.4 percentage points during that week."
Conversely, the administration confirmed that "gasoline inventories fell by 200,000 barrels last week."
Data from the Energy Information Administration showed that "distillate inventories, which include diesel and heating oil, increased by about one million barrels, compared to expectations for an increase of 900,000 barrels. The net imports of crude oil into the United States recorded an increase of one million barrels per day."
