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U.S. crude oil inventories rose, fuel inventories declined, and total exports hit a new high
Odaily Planet Daily News reports that the U.S. Energy Information Administration (EIA) stated on Wednesday that U.S. crude oil inventories increased last week, while gasoline and refined oil inventories decreased, and due to supply disruptions caused by the Iran war, U.S. total exports reached record levels. The EIA said that during the week ending April 17, crude oil inventories increased by 1.9 million barrels to 465.7 million barrels, compared to an expected decrease of 1.2 million barrels. The EIA also reported that crude oil inventories at the Cushing delivery hub in Oklahoma increased by 806,000 barrels. Despite the unexpected inventory increase, oil prices still rose. (Jin10)