FX.co ★ US Crude Oil Inventories Rise More than Expected: EIA

U.S. crude oil inventories experienced a significant increase of 5.202 million barrels for the week ending October 31, marking the largest rise since July 25. This figure surpasses market projections, which anticipated a modest 0.6-million barrel increase. Meanwhile, at the Cushing, Oklahoma delivery hub, crude stocks saw an uplift of 0.3 million barrels. In contrast, refined fuel inventories experienced declines, with gasoline stocks decreasing by 4.73 million barrels and distillate fuel stocks falling by 0.643 million barrels.