U.S. commercial crude oil inventories unexpectedly climbed by 1.9 million barrels last week, defying analyst expectations of a 1 million barrel decline. The Energy Information Administration reported stockpiles at 465.7 million barrels, about 3% above the five-year average for this time of year. This marks a significant deviation from forecasts as imports increased by 787,000 barrels per day to 6.1 million.

Oil exports fell by 427,000 barrels per day to 4.8 million, while domestic production remained steady at 13.6 million barrels daily. The Strategic Petroleum Reserve continued its drawdown, dropping 4.1 million barrels to 405 million as the Energy Department responded to Middle East supply disruptions. Cushing, Oklahoma, the Nymex delivery hub, saw inventories rise by 806,000 barrels to 30.6 million.

This inventory build comes as a surprise to market watchers who had anticipated a drawdown. The divergence between rising imports and falling exports suggests shifting trade dynamics in the global oil market. With SPR releases continuing amid regional instability, the unexpected stockpile increase could influence near-term price movements and trading strategies.