WASHINGTON (dpa-AFX) - The Energy Information Administration released a report on Thursday unexpectedly showing a notable increase in U.S. crude oil inventories in the week ended November 6th.
The report said crude oil inventories jumped by 4.7 million barrels last week after edging down by 0.9 million barrels in the previous week. Economists had expected crude oil inventories to dip by 1.1 million barrels.
At 414.4 million barrels, U.S. crude oil inventories are still 4 percent below the five-year average for this time of year, the EIA said.
The EIA said gasoline inventories also rose by 1.8 million barrels last week and are 1 percent above the five-year average for this time of year.
Distillate inventories, which include heating oil and diesel, also increased by 4.1 million barrels last week but remain 8 percent below the five-year average for this time of year, the report said.
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