Crude inventories rose by 2.1 million barrels in week to July 16 to 439.7 million barrels, compared with analysts' expectations in a Reuters poll for a 4.5 million-barrel drop
Crude inventories fell by 5.9 million barrels in the week to April 9 to 492.4 million barrels, compared with analysts' expectations in a Reuters poll for a 2.9 million-barrel drop.
Oil prices rallied on the report. US crude futures were up $2.50 a barrel, or 4.1%, at $62.68 a barrel, while Brent rose 4% to $66.17 a barrel.
A triple-bottom could be developing around $57.50. It will be confirmed when oil goes above $62.27. Even if this pattern turns out to be a flat consolidation within a range, oil is still likely to rise towards $62.27.
A break below $57.88 will be a very bearish signal that the downtrend from $67.98 could have resumed towards $51.64-$55.50 range.
Crude inventories rose by 13.8 million barrels in the week to March 5 to 498.4 million barrels, compared with analysts' expectations in a Reuters poll for an 816,000-barrel rise.
Refining activity rebounded as well, but with overall utilization rates lower than usual for this time of year, stocks of gasoline, heating oil and diesel continued to decline.
Crude inventories fell by 3.2 million barrels in the week to Jan. 8 to 482.2 million barrels, compared with expectations in a Reuters poll for a 2.3 million-barrel drop.
I think what we're seeing here is the drawdown in supply and a big uptick in refinery runs is giving the market an idea that refiners are starting to ramp up production of products.
Crude inventories fell by 8 million barrels in the last week to 485.5 million barrels, compared with analysts' expectations in a Reuters poll for a 2.1 million-barrel drop.
Refinery crude runs rose by 89,000 barrels per day in the last week, EIA said.