U.S. crude oil inventories increased by 4.4 million barrels last week, according to data released by the Energy Information Administration (EIA) on Wednesday. The rise brought total crude stocks to 428.8 million barrels for the week ending August 14.
Gasoline inventories also edged higher, climbing 0.7 million barrels to 209.4 million barrels. In contrast, distillate stockpiles—including diesel and heating oil—declined by 1.5 million barrels to 105.6 million barrels.
At the Cushing, Oklahoma delivery hub, crude inventories fell by 1.3 million barrels during the same period. Refinery activity strengthened, with crude runs rising by 216,000 barrels per day and refinery utilization rates increasing by 1 percentage point.
