U.S. crude oil inventories rose 3.8 million barrels last week, marking the third consecutive weekly increase and surprising analysts who expected a 1.1 million barrel gain. The Energy Information Administration reported commercial crude stocks, excluding the Strategic Petroleum Reserve, reached 443.1 million barrels.

Exports fell while refineries increased capacity use, contributing to the larger-than-expected build. The inventory level remains about 2% below the five-year average, suggesting supply remains relatively balanced despite the recent increases.

This unexpected build could signal weakening demand or increased production, potentially putting downward pressure on oil prices. Market watchers will monitor whether this trend continues as seasonal demand patterns emerge.