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U.S. Crude Oil Stockpiles Rise More Than Expected

The Wall Street Journal · last updated

ET

U.S. crude oil inventories increased more than expected last week, resuming an upward trend after a surprise drawdown the week before, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 3.6 million barrels to 433.8 million barrels in the week ended Feb. 28 and were about 4% below the five-year average for the time of year, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would increase by 200,000 barrels.

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