U.S. crude oil inventories rise, fuel inventories fall, and total exports hit a record high
Golden Ten Data reported on April 22 that the U.S. Energy Information Administration (EIA) stated on Wednesday that U.S. crude oil inventories increased last week, while gasoline and distillate inventories declined. Due to supply disruptions caused by the war in Iran, total U.S. exports reached a record high. The EIA noted that for the week ending April 17, crude oil inventories rose by 1.9 million barrels to 465.7 million barrels, while the expected change was a decrease of 1.2 million barrels. The EIA also indicated that crude inventories at the delivery point in Cushing, Oklahoma increased by 806,000 barrels. Despite the unexpected inventory build, oil prices still rose.
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