According to EIA, crude inventories in U.S. increased by 8.4 million barrels

The Energy Information Administration (EIA) reported that the crude inventories in the U.S. exceeded 8 billion barrels. This information was published on Thursday. The organization has been talking about a rapid increase in reserves for the second week in a row. Such data is at odds with market expectations.

The crude inventories in the country increased by 8.408 billion barrels for the last week, although a decrease of 0.593 million barrels was expected. A week earlier, EIA reported their growth by 18.962 million barrels. According to Administration’s data, the increase in total crude oil inventories amounted to about 30 million barrels over the past four weeks.

Also, the EIA reported on the growth of gasoline inventories. They increased by 3.483 million barrels, although the experts had forecasted a 2.529 million barrels growth. The increase was 4.114 million barrels a week earlier.   

Besides, The Administration reported about a 1.939 million barrels decrease in distillate stockpiles compared with projected growth of 0.122 million barrels and a 1.069 million barrels drop last week.