US Crude Oil Inventories Edge Up Amid Below-Expectation Rise

US crude oil inventories increased by around 100,000 barrels to 428.9 million barrels in the week ending August 21, according to data released by the Energy Information Administration (EIA) on Wednesday.

This rise was below market expectations of a 1.6 million barrel increase.

The strategic petroleum reserves, which are excluded from commercial crude inventories, decreased by about 3.7 million barrels to 289.7 million barrels during the same period.

Gasoline inventories also fell by approximately 2.5 million barrels to 206.8 million barrels over the week ending August 21.