US oil stockpiles jump in latest week, DoE says

US crude oil stockpiles jumped by 8.4m barrels over the week ending on 22 January, according to the Energy Information Administration, the Department of Energy´s statistical arm.

Analysts had been expecting a rise of 4.0m barrels.

Gasoline inventories also increased, by 3.5m barrels, as did those of distillate fuels, which jumped by 4.1m.

That was despite a 170,000 barrel per day drop in stockpiles versus the previous week.

Refineries operated at 87.4% of their capacity last week, the DoE said.