Investing.com — Oil stockpiles unexpectedly rose last week, according to the latest data from the American Petroleum Institute.
rose 5.6 million barrels, compared with the draw of 1.43 million barrels expected. The data come a day before the government’s own data on oil and refined products for the previous week.
Distillate stockpiles showed a draw of 1.656 million barrels, while gasoline stocks rose 1.216 million barrels. Oil stored at the Cushing, Okla., facility declined by 0.390 million barrels.
The price of crude fell late Wednesday, with down more than 4%, to $104.44 a barrel. crude also fell 4%, to $110 a barrel.
