EIA: US crude inventories surge unexpectedly

The Energy Information Administration released its report on US crude stocks, showing a buildup of 6.8 million barrels in the week ending August 10, compared to a 1.4 million drawdown in the previous week, while analysts expected a 2.6 million drop, with total stocks now up to 414.2 million barrels, making them 1% above five-year averages. 

Gasoline stocks fell 0.7 million barrels, still 5% above averages, while distillate stocks, including heating fuel, rose 3.6 million barrels, still 8% below averages.