U.S. crude oil inventories rose, fuel inventories fell, and total exports hit a new high

Odaily News According to the U.S. Energy Information Administration (EIA) on Wednesday, U.S. crude oil inventories increased last week, while gasoline and distillate inventories decreased. Meanwhile, due to supply disruptions caused by the Iran conflict, total U.S. exports reached a record high. The EIA stated that in the week ending April 17, crude oil inventories increased by 1.9 million barrels to 465.7 million barrels, whereas the market expectation was a decrease of 1.2 million barrels. The EIA also reported that crude oil inventories at the Cushing, Oklahoma delivery hub increased by 806,000 barrels. Despite the unexpected inventory build, oil prices still rose. (Jin10)