By Anthony Harrup
U.S. crude oil inventories rose more than expected last week, while gasoline and distillate fuel stocks decreased, according to data released Wednesday by the U.S. Energy Information Administration.
Commercial crude-oil stocks excluding the Strategic Petroleum Reserve rose by 4.2 million barrels to 447.2 million barrels in the week ended Feb. 23 and were about 1% below the five-year average for the time of year, the EIA said.
Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would rise last week by 1.5 million barrels.
Change in U.S. oil inventories for the week ended Feb. 23: Crude Gasoline Distillates Refinery Use EIA data: 4.2 -2.8 -0.5 0.9 Forecast: 1.5 -1.3 -2.0 1.1
Note: Numbers in millions of barrels, with the exception of refinery use, which is in percentage points.
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