Inventories of crude oil, gasoline, and distillates in the United States experienced a sudden rise during the week ending on June 7th.

Crude oil inventories rose unexpectedly by 3.7 million barrels to 459.7 million barrels, exceeding analysts’ forecasts for a decrease of one million barrels.

In contrast, crude oil inventories at the delivery center in Cushing, Oklahoma, decreased by 1.6 million barrels.

In terms of refined products, gasoline inventories increased by 2.6 million barrels to 233.5 million barrels, while distillate inventories increased by 0.9 million barrels to 123.4 million barrels.

The data indicate that US net imports of crude increased by 2.56 million barrels per day, while crude consumption at refineries decreased by 97 thousand barrels per day, and refinery operating rates decreased by 0.4 percent.

Argus Media analysts expect oil prices to remain below USD 85 per barrel in the coming period, affected by rising inventories and falling demand for crude.

The data indicate an abundance of oil supplies in the United States, which may put pressure on prices in the coming period.

These developments are expected to affect global oil prices, as markets are closely monitoring supply and demand data around the world.