Investing.com — Oil stockpiles rose more than expected last week, according to the Energy Information Administration.
rose 4.3 million barrels, against expectations for an increase of 1.23 million barrels. That comes a week after crude stocks fell 1 million barrels.
Inventory has fallen in two of the last six weeks as the economy tries to come back to life after Covid-related shut downs.
, the U.S. benchmark, fell 6% in morning trading ahead of the data release.
Crude oil stored at , Oklahoma, fell 422,000 barrels, compared to an expected draw of 2.5 million barrels.
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