Crude oil inventories unexpectedly increased in the week ended August 29th, according to a report released by the Energy Information Administration on Thursday.
The report said crude oil inventories rose by 2.4 million barrels last week, reversing the 2.4 million barrel decrease seen in the previous week. Economists had expected crude oil inventories to fall by 1.8 million barrels.
At 420.7 million barrels, U.S. crude oil inventories remain about 4 below 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.