Crude Inventories Surge as Exports Slump to Lowest Level Since 2025

U.S. crude inventories saw their largest weekly gain in over three and a half years, rising by 17.4 million barrels to 424.4 million barrels last week, according to data from the Energy Information Administration.

The unexpected build was driven by slumping exports, which fell to their lowest level since November 2025 at 3.06 million bpd, and a surge in imports, particularly from Canada and Venezuela.

Crude stocks along the Gulf Coast rose by their most in a week since January 2023, with U.S. crude futures initially extending losses before trading flat on the day.