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US crude stocks rise by most since April

Oil

US crude oil inventories increased by 7.6M bbls w-o-w to a four-month high of 468.6M bbls in the week ending 9 October, according to the US Energy Information Administration. This is the largest w-o-w build since April and also marks the first time that stocks have increased for three consecutive weeks since that month. US crude refinery throughputs slipped for the fourth week in a row to an eight-month low of 15.3M b/d, down 292K b/d from the prior week. US crude imports increased by 247K b/d w-o-w to 7.3M b/d.