HOUSTON, April 10 (Xinhua) -- U.S. crude oil inventories increased during the week ending April 5, the U.S. Energy Information Administration (EIA) said in a report on Wednesday.
According to the Weekly Petroleum Status Report, U.S. commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, increased by 7.0 million barrels from the previous week.
The increase report defied market expectation, which forecast a build of 2.29 million barrels of crude oil inventories in the country. The surprising buildup of inventories implied weaker demand and more pressure on crude prices.
At 456.5 million barrels, U.S. crude oil inventories were at the five-year average for this time of year.
According to the EIA, U.S. total motor gasoline inventories decreased by 7.7 million barrels last week and were at the five-year average for this time of year.
Finished gasoline and blending components inventories both decreased last week. Distillate fuel inventories decreased by 100,000 barrels last week and were about 6 percent below the five-year average for this time of year.
Propane/propylene inventories increased by 1.2 million barrels last week and were about 19 percent above the five-year average for this time of year. Total commercial petroleum inventories increased by 4.1 million barrels last week.
