US Commercial Crude Oil Reserves Rise Surprisingly, Upending Analyst Expectations

Commercial crude oil reserves rose sharply last week in the United States, according to figures released Wednesday by the US Energy Information Agency (EIA), catching the market by surprise. During the week ended June 9, commercial inventories increased by 7.9 million barrels, while analysts expected a decline of 1.5 million barrels, according to a consensus established by the Bloomberg agency.