EIA: US Crude Oil Stockpiles Rise In Ninth Weekly Build

U.S. crude oil stockpiles rose more than expected last week, building for the ninth consecutive week, while gasoline and distillate inventories fell, the Energy Information Administration (EIA) said Nov. 21.

Crude inventories rose 4.9 million barrels in the week to Nov. 16, compared with analysts’ expectations for an increase of 2.9 million barrels. Total inventories were 446.91 million barrels, the highest level since December 2017.

The last time crude stocks grew for nine straight weeks was between Jan. 6, 2017 to March 3, 2017.