U.S. Crude Inventories Unexpectedly Rose by 5.4M Barrels By Investing.com

© Reuters.

Investing.com – U.S. commercial crude (excluding those in the Strategic Petroleum Reserve) rose by 5.4 million barrels last week, versus expectations for a decline of 800,000 barrels, the Energy Information Administration said Wednesday.

In the previous week, crude inventories fell by almost 4 million barrels.

The EIA also said that total motor decreased by 1.1 million barrels during the week ended May 10, against forecasts for a drop of nearly 300,000. In the earlier week to May 3, gasoline inventories fell by almost 600,000.

rose by 84,000 barrels last week versus expectations for a drop of around 1 million barrels. In the previous week, distillate stockpiles slid by almost 160,000 barrels.

Oil prices were mixed upon the release of the EIA numbers.

, the benchmark for U.S. crude, slid 16 cents, or 0.3%, to $61.62 per barrel by 10:34 AM ET (14:34 GMT).

, the global benchmark for oil, rose by 23 cents, or 0.3%, to $71.47.

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