Investing.com -- Oil stockpiles rose more than expected last week, according to the Energy Information Administration.
Crude oil inventories rose 4.3 million barrels, against expectations for an increase of 1.23 million barrels. That comes a week after crude stocks fell 1 million barrels.
Inventory has fallen in two of the last six weeks as the economy tries to come back to life after Covid-related shut downs.
Crude Oil WTI Futures, the U.S. benchmark, fell 6% in morning trading ahead of the data release.
Crude oil stored at Cushing, Oklahoma, fell 422,000 barrels, compared to an expected draw of 2.5 million barrels.