U.S. crude oil inventories have surprisingly increased, according to the latest data. This development contrasts sharply with analysts’ forecasts, which had predicted a draw in inventories. The unexpected build has contributed to downward pressure on crude oil prices in the market.

The increase in crude oil stocks could be attributed to several factors. Weaker demand for oil, potentially due to slower economic activity, may be a contributing factor. Alternatively, increased domestic production could also explain the rise in inventories.