U.S. oil reserves rise significantly amid rising war danger in Gulf

by Alimat Aliyeva

Commercial crude oil inventories in the United States increased, according to data released by the U.S. Energy Information Administration (EIA), AzerNEWS reports.

During the latest reporting week, U.S. crude oil stocks rose by 3 million barrels, reaching 411.4 million barrels. This result came as a surprise to the market, as analysts had expected inventories to decline by approximately 1.9 million barrels.

At the same time, the country’s Strategic Petroleum Reserve (SPR), which is separate from commercial inventories, decreased by 6.2 million barrels to 319.5 million barrels.

Gasoline inventories also declined during the reporting period, falling by 1.9 million barrels to 212.1 million barrels. The changes in oil and fuel stocks may influence global energy markets, as U.S. inventory data is closely watched by traders and often affects oil price movements.

Experts note that fluctuations in American crude reserves are influenced by several factors, including domestic production levels, refinery activity, seasonal demand, and changes in global oil supply.