U.S. Crude Oil Inventories Unexpectedly Rise By 3.0 Million Barrels

(RTTNews) - Crude oil inventories in the U.S. unexpectedly increased by the week ended August 8th, according to a report released by the Energy Information Administration on Wednesday.

The EIA said crude oil inventories rose by 3.0 million last week after falling by 3.0 million barrels in the previous week. Economists had expected crude oil inventories to dip by 0.8 million barrels.

At 426.7 million barrels, U.S. crude oil inventories remain about 6 percent below the five-year average for this time of year, the report said.

The report said distillate fuel inventories, which include heating oil and diesel, also crept up by0.7 million barrels last week but remain about 15 percent below the five-year average for this time of year.

Meanwhile, the EIA said gasoline inventories slipped by 0.8 million barrels last week and are at the five-year average for this time of year.