US oil inventories rise more than expected

Oil tanks

US crude oil inventories rose during the week ended Sept. 26, indicating weak demand in the world's largest economy.

Data released Wednesday by the Energy Information Administration (EIA) showed that commercial crude oil inventories rose by 1.8 million barrels to 416.5 million barrels last week, more than the expected 300,000-barrel increase.

Besides, gasoline witnessed a 4.1-million-barrel increase in its inventories, and a 600,000-barrel increase in distillate inventories, which include diesel and heating oil.