U.S. crude oil inventories unexpectedly rise

The U.S. United States — Energy Information Administration reported unexpected increases in commercial crude oil inventories for the weeks ended July 31 and August 7, 2026. For the week ended July 31, crude stocks rose by 2.5 million barrels to 407 million barrels, contrary to analyst expectations of a decline. For the week ended August 7, crude inventories spiked by 17.4 million barrels to 424.4 million barrels, the largest build in recent weeks, versus expectations of a fall. The increases were driven by higher imports and lower refinery runs. The United States — United States Department of Energy continued releasing oil from the United States — Strategic Petroleum Reserve, which fell to its lowest level in over four decades. Gasoline and distillate inventories mostly declined but remained below five-year averages. The reports were released by the United States — Energy Information Administration on consecutive Wednesdays.