Oil: further increase in crude reserves in the United States

(Boursier.com) — Oil prices are reducing their advance after the announcement of a surprise increase in crude reserves in the United States last week. According to the US Department of Energy, domestic crude stocks, excluding strategic reserves, increased by 3.7 million barrels during the week ended June 7 to 459.7 mb. The consensus was for a drop of 1.2 mb. Stocks of gasoline increased by 2.6 mb (vs. 0.25 mb of consensus), and those of distilled products increased by 0.9 mb (vs. +0.5 mb expected).