U.S. Crude Oil Stockpiles Post Weekly Increase

U.S. crude oil inventories increased last week as imports rose, and gasoline stocks posted a ninth straight weekly build, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude oil stocks excluding the Strategic Petroleum Reserve rose by 3.4 million barrels to 422.4 million barrels in the week ended Jan. 9, and were about 3% below the five-year average for the time of year, the EIA said. Crude stocks were expected to have fallen by 1.4 million barrels, according to a Wall Street Journal survey of analysts.