Crude oil inventories in the U.S. increased by much more than expected in the week ended March 6th, according to a report released by the Energy Information Administration on Wednesday.
The EIA said crude oil inventories grew by 3.8 million barrels last week after climbing by 3.5 million barrels in the previous week. Economists had expected crude oil inventories to rise by 1.1 million barrels.
At 443.1 million barrels, U.S. crude oil inventories are still about 2 percent below the five-year average for this time of year, the EIA said.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.