Oil Tanks

US crude oil inventories advanced last week against analyst forecasts, as exports slumped and refining activity slowed.

Data released by the Energy Information Administration (EIA) showed that crude oil inventories added 7.3 million barrels in the week ended April 26, against expectations by a Wall Street Journal survey that indicated a drop of 1.5 million barrels.

Gasoline stocks, similarly, gained 300,000 barrels, contrary to projections for a 1.2-million-barrel decline.

Meanwhile, distillate stocks, which include diesel and heating oil, shed nearly 700,000 barrels, versus expectations for a 400,000-barrel hike.