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Investing.com —U.S. oil stockpiles rose more than expected in the latest week, the Energy Information Administration said on Wednesday.
rose 4.345m barrels last week, compared with analyst’s expectations for a draw of 1.375 million barrels.
stockpiles, which include diesel and , rose by 0.332m barrels in the week against expectations for a draw of 1.826 million barrels, the EIA data showed.
inventories fell by 3.616 million barrels last week, the EIA said, compared with expectations for a draw of 1.579 million barrels.
prices continued their fall Tuesday, down more than 1% on worries surrounding demand from China — the largest oil importer — with the country facing Covid outbreaks in Shenzhen, a city of around 17 million. The city, which is a manufacturing hub, has been put into a stringent lockdown.
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