US crude oil inventories surge in latest week, DoE says
US crude oil and product inventories jumped sharply at the start of the year, amid a surge of imports.
Over the week ending on 6 January, crude oil stockpiles jumped by 4.1m barrels a day, according to the Energy Information Administration, the Department of Energy's statistical arm.
In parallel, total motor gasoline inventories rose by 5.0m barrels and those of distillates by another 8.4m.
Refineries operated at 93.6% of their capacity during the week, the EIA said in the same report.
Imports of crude oil increased by roughly 1.9m barrels per day.