US stockpiles of crude oil and petrol surprisingly jumped in the past week, but winter fuels slumped, according to data released this afternoon.
In a weekly survey of US inventories, the Department of Energy said crude oil reserves surged 2.4 million barrels to 330.5 million in the week to October 6. That was much more than the rise of 1.5 million barrels expected by energy traders.
Petrol reserves crept up 300,000 barrels to 215.4 million, compared with expectations for a fall of 450,000 barrels. But inventories of distillates, used for heating oil and diesel fuel, tumbled 1.6 million barrels to 149.9 million.
After the report, crude oil futures in New York rose 23 cents to $57.82 a barrel, having earlier fallen to its lowest point since December. Brent crude added 30 cents to $58.95.
