Extending the surge seen over the past few weeks, crude oil inventories in the U.S. once again increased more than expected in the week ended April 12th, according to a report released by the Energy Information Administration on Wednesday.
The report said crude oil inventories jumped by 2.7 million barrels last week after spiking by 5.8 million barrels in the previous week. Economists had expected crude oil inventories to rise by 1.6 million barrels.
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Business News
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.