U.S. Crude Oil Inventories Unexpectedly Increase But Gasoline Inventories Slump

U.S. crude oil inventories unexpectedly increased in the week ended April 17, according to the Energy Information Administration. The surprise build is a mild bearish signal for oil prices and suggests softer near-term supply-demand balance. Market impact should be limited unless followed by further inventory increases or a larger-than-expected draw in later weeks.

Analysis

U.S. crude oil inventories unexpectedly increased in the week ended April 17, according to the Energy Information Administration. The surprise build is a mild bearish signal for oil prices and suggests softer near-term supply-demand balance. Market impact should be limited unless followed by further inventory increases or a larger-than-expected draw in later weeks.