U.S. Crude Oil, Products Stocks Rose in First Week of January

U.S. crude oil inventories rose unexpectedly last week, while stocks of gasoline and distillate fuels saw above-forecast builds and refineries reduced their capacity use, according to data released Wednesday by the U.S. Energy Information Administration.

Commercial crude-oil stocks excluding the Strategic Petroleum Reserve rose by 1.3 million barrels to 432.4 million barrels in the week ended Jan. 5 and were about 2% below the five-year average for the time of year, the EIA said. Analysts surveyed by The Wall Street Journal had predicted crude stockpiles would decline by 600,000 barrels.