KONTAN.CO.ID - WASHINGTON. U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season, data from the U.S. Energy Information Administration showed on Thursday. Crude inventories rose by 7.6 million barrels to about 479 million barrels in the week to Feb. 17, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel rise. Another steep crude oil supply adjustment in the EIA data added to the build, said Phil Flynn, senior analyst at Price Futures Group in Chicago. Last week, a large adjustment contributed to a 16.3 million-barrel rise in crude supplies.
U.S. Crude Stockpiles Rise for Ninth Week in a Row
KONTAN.CO.ID - WASHINGTON. U.S. crude oil inventories rose for the ninth week in a row, surging to their most since May 2021, as refiners ran less oil during a strong maintenance season, data from the U.S. Energy Information Administration showed on Thursday. Crude inventories rose by 7.6 million barrels to about 479 million barrels in the week to Feb. 17, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel rise. Another steep crude oil supply adjustment in the EIA data added to the build, said Phil Flynn, senior analyst at Price Futures Group in Chicago. Last week, a large adjustment contributed to a 16.3 million-barrel rise in crude supplies.