API data shows a second consecutive rise in crude stockpiles, breaking a 13-week decline streak and surprising markets.
U.S. commercial crude stockpiles increased by 3.3 million barrels for the week ending July 24, marking the second straight weekly build. The rise follows 13 consecutive weeks of declines, defying expectations for continued drawdowns.
Prior to this, inventories had fallen steadily amid summer demand and production adjustments. Analysts had anticipated a modest draw, making the build a notable deviation from recent trends.
The report did not include immediate market reactions, but the surprise build could weigh on oil prices if confirmed by official data.