US oil inventories rise against expectations

EIA data shows gasoline and distillate stocks in US rose unexpectedly last week

US oil inventories rose unexpectedly during the week ending Dec. 19, alongside increases in gasoline and distillate inventories.

Commercial crude oil inventories increased by 400,000 barrels over the week, versus expectations of a decline by two million barrels, according to data released by the Energy Information Administration (EIA) today, Dec. 30.

At the same time, gasoline inventories rose by 2.9 million barrels during the same period, while distillate inventories, including diesel and heating oil, increased by 200,000 barrels.

The data reflected weak energy demand in the world’s largest economy.

The EIA data for the week was delayed due to the Christmas holiday and was to be released on Dec. 29.

However, the agency postponed the publication again, citing an update to its website to reflect changes in report and data release schedules.