U.S. commercial crude oil inventories rose by 17.4 million barrels for the week ending August 7, 2026. The Energy Information Administration (EIA) reported the largest weekly increase since January 2023. This surge contrasted with analyst expectations of a 1.4 million-barrel draw. National crude stockpiles reached 424.4 million barrels, the highest level since early June.
A sharp increase in crude imports primarily drove the inventory jump. Imports rose by 1.14 million barrels per day. A slump in exports further contributed to the build. Both U.S. and Brent crude futures extended losses following the data release.
Gasoline inventories fell by 1.0 million barrels. Distillate stocks also saw a minor decrease.