EL7.AI
CommoditiesMedium•12 November 2026•
1 min read

US Crude Oil Inventories Rise by 4.657 Million Barrels, Defying Expectations

Key Facts

1US crude oil inventories increased by 4.657 million barrels, significantly missing expectations of a 1.109 million-barrel draw.
2Distillate and gasoline inventories recorded unexpected builds of 4.071 million and 1.799 million barrels respectively.

US crude oil inventories increased by 4.657 million barrels for the week ending November 6, significantly missing expectations of a 1.109 million-barrel draw. According to investinglive.com, distillate and gasoline inventories also recorded unexpected builds of 4.071 million and 1.799 million barrels respectively, indicating a broader surplus than anticipated by markets.

The official figures from the Energy Information Administration (EIA) follow private data from the American Petroleum Institute (API), which reported a larger 9 million-barrel build on November 10, 2026. While the EIA's reported increase was less severe than the API's estimate, the build across all major categories remains bearish for energy prices, occurring alongside a 0.7 percentage point rise in refinery utilization.

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