US Crude Stocks Rise by 0.9 Million Barrels as Fuel Inventories Fall Sharply

U.S. commercial crude oil inventories unexpectedly increased for the week ending September 25, rising by about 0.9 million barrels to 427.3 million barrels. The build defied analyst expectations of a draw, ranging from 0.264 million to 0.700 million barrels, while easing from a roughly 3.0 million barrel build the prior week. Cushing crude stocks rose by 0.555 million barrels, while the Strategic Petroleum Reserve dropped 0.8 million barrels to 283.8 million barrels. In contrast, refined fuel supplies tightened significantly, with distillate stocks falling 2.3 million barrels and gasoline declining 1.7 million barrels, supporting higher crude prices.