Oil: sharp increase in crude reserves in the United States last week

(Boursier.com) — Oil prices remain in the red after the announcement of a fairly large 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 3.6 million barrels during the week ended November 10 to 439.4 mb. The consensus was expecting an increase of 1.8 mb. Gasoline stocks fell by 1.5 mb (+0.6 mb expected), and those of distilled products fell by 1.4 million barrels (-1.2 mb expected).