US crude oil inventories rise for third consecutive week

US crude oil inventories increased in the week ended Oct. 10, marking a rise for the third consecutive week, according to data released by the Energy Information Administration (EIA) on Thursday.

Commercial crude inventories rose by 3.5 million barrels to 423.8 million barrels last week, below expectations of an 300,000-barrel rise.

Meanwhile, gasoline inventories declined by 300,000 barrels, with distillate stocks—including diesel and heating oil—decreasing by 4.5 million barrels.