Commercial crude oil inventories in the United States increased by 1.786 million barrels for the week ending September 18. This figure contrasts with analyst expectations, which had projected a draw of approximately 500,000 barrels.
The delivery hub in Cushing, Oklahoma, recorded a significant surge in stocks, with an increase of 2.082 million barrels. This rise follows a decline of 246,000 barrels reported in the previous week.
Data also shows a decrease in other petroleum products. Gasoline stocks fell by 2.16 million barrels, while distillate inventories, including diesel and heating oil, dropped by 2.164 million barrels.
Government holdings in the Strategic Petroleum Reserve decreased by 400,000 barrels, bringing the total to 284.6 million barrels. This level is the lowest recorded since the early 1980s.
Prior to this week, commercial crude inventories had experienced cumulative draws of 39 to 41 million barrels over a period of 22 to 23 weeks, marking a temporary shift in the supply trend.
