FX.co ★ US Crude Oil Inventories Rise for 4th Week

Crude oil inventories in the United States saw an uptick of 244,000 barrels for the week ending April 18th, defying market forecasts that had anticipated a decrease of 700,000 barrels. This marks the fourth successive week of inventory increases, as reported by the EIA Petroleum Status Report. In contrast, stocks at the Cushing, Oklahoma delivery hub experienced a reduction of 86,000 barrels. Within the category of refined fuels, gasoline inventories dropped significantly by 4.5 million barrels, while distillate fuel stocks decreased by 2.3 million barrels, both surpassing anticipated figures.