WASHINGTON (dpa-AFX) - The Energy Information Administration released a report on Thursday showing U.S. crude oil inventories increased by much more than expected in the week ended October 10th.
The report said crude oil inventories grew by 3.5 million barrels last week after jumping by 3.7 million barrels in the previous week. Economists had expected crude oil inventories to inch up by 0.1 million barrels.
At 423.8 million barrels, U.S. crude oil inventories remain about 4 percent below the five-year average for this time of year, the EIA said.
Meanwhile, the EIA said distillate fuel inventories, which include heating oil and diesel, tumbled by 4.5 million barrels last week and are about 7 percent below the five-year average for this time of year.
The report also said gasoline inventories edged down by 0.3 million barrels last week and are slightly below the five-year average for this time of year.
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