U.S. Crude Oil Inventories Rise Slightly More Than Expected

(RTTNews) - Crude oil inventories in the U.S. increased by slightly more than expected in the week ended April 4th, according to a report released by the Energy Information Administration on Wednesday.

The report said crude oil inventories climbed by 2.6 million barrels last week after surging by 6.2 million barrels in the previous week. Economists had expected crude oil inventories to rise by 2.2 million barrels.

At 442.3 million barrels, U.S. crude oil inventories remain about 5 percent below the five-year average for this time of year, the EIA said.

Meanwhile, the EIA said gasoline inventories fell by 1.6 million barrels last week and are the same as the five-year average for this time of year.

Distillate fuel inventories, which include heating oil and diesel, also decreased by 3.5 million barrels last week and are about 9 percent below the five-year average for this time of year.