US Crude Inventories Increased Again

The commercial crude oil inventories in the United States continued to increase last week as stockpiling in the wake of recent hurricanes continued, the Department of Energy reported on Wednesday.

Crude oil inventories rose by 4.4 million barrels for the week ending on October 21 to a total of 316.4 million barrels. That is 12.3 percent above the level in the corresponding period of last year.

The report also showed that stock of gasoline increased by 200,000 barrels to 195.9 million last week.