The latest inventory report from the US Energy Information Administration (EIA) revealed that domestic crude oil stockpiles rose by 2.969 million barrels last week, significantly diverging from the median analyst estimate, which had projected a decrease of 690,000 barrels.

The EIA data also highlighted several other notable shifts across the energy complex for the week. Gasoline inventories posted a drawdown of 1.686 million barrels, contrasting with market expectations that called for a build of 500,000 barrels. Meanwhile, distillate fuel stockpiles, which include diesel and heating oil, fell by 428,000 barrels, a larger decline than the anticipated decrease of 68,000 barrels.

At the key storage hub in Cushing, Oklahoma, crude inventories contracted by 2.266 million barrels. Refinery utilization rates dropped by 2.8 percentage points, well above the forecasted dip of 0.7 percentage points. Correspondingly, crude oil processing runs at refineries declined by 519,000 barrels per day. Crude oil imports also slid by 1.181 million barrels per day, while domestic crude production slipped by 5,000 barrels per day. For traders seeking robust execution, this data arrives amid ongoing volatility, and major futures platforms are touting secure, fast account opening for those looking to capitalize on such moves.