US crude inventories rise over 4 million barrels

The Energy Information Administration reported today that the US crude inventories rose 4.3 million barrels to 430.8 million barrels during the past week, while analysts forecast a drop by 100K barrels.

Gasoline stocks fell 2 million barrels to 215.7 million barrels, and the distillate stocks fell 400K barrels to 125 million barrels.

While the American Petroleum Institute reported yesterday in preliminary data that the US crude inventories rose 2.3 million barrels during the same period.