US Crude Inventories Surge 2.479M Barrels, Missing Expectations

EIA data reveals a 2.479M barrel build in US crude stocks for the week ending July 31, sharply diverging from the anticipated 1.506M drawdown.

Woofun AI data shows that US EIA crude oil inventories for the week ending July 31 increased by 2.479 million barrels, contrasting with market expectations of a 1.506 million barrel decline and a prior reading of -7.167 million barrels. Cushing, Oklahoma crude stocks rose by 2.356 million barrels, reversing a previous drop of -0.771 million barrels. Strategic Petroleum Reserve holdings decreased by 2.841 million barrels, compared to a prior reduction of -3.797 million barrels.