U.S. crude-oil inventories surged for a sixth straight week, reaching 461.6 million barrels as commercial stocks rose 5.5 million barrels above expectations, according to the U.S. Energy Information Administration (EIA). The unexpected buildout—0.1% above the five-year average for this period—contrasts with analysts’ forecasts of a 800,000-barrel increase. Gasoline and distillate inventories declined, signaling tighter refining demand.

The Strategic Petroleum Reserve (SPR) saw a 378,000-barrel drop to 415.1 million barrels as the Department of Energy released oil to counter Persian Gulf supply disruptions. Meanwhile, Cushing, Oklahoma’s storage hub held 31.5 million barrels, up 520,000 barrels week-over-week.

Crude production held steady at 13.7 million barrels per day, while imports remained flat at 6.5 million barrels per day. Exports, however, rose 199,000 barrels per day to 3.5 million barrels per day, boosting market supply.

This persistent inventory growth underscores ongoing supply-demand imbalances, with analysts warning of potential price volatility as SPR depletion accelerates. Market watchers will track whether production adjustments or export surges offset the buildup.