EIA: US Crude Stockpiles Rise For Fourth Straight Week

U.S. crude oil stockpiles rose last week for the fourth straight week, led by a notable increase in inventories at the Cushing, Okla., hub, while gasoline and distillate stocks fell, the Energy Information Administration (EIA) said Oct. 17.

Crude inventories rose 6.5 million barrels in the week to Oct. 12, nearly three times analysts’ expectations for an increase of 2.2 million barrels.

Stocks at Cushing, the delivery hub for U.S. crude futures, rose by 1.8 million barrels, EIA said.