U.S. crude oil inventories unexpectedly rose last week, according to data released by the Energy Information Administration (EIA). This surprised market analysts who had anticipated a decline in stockpiles.

The EIA reported that crude inventories increased by 2.5 million barrels, a stark contrast to the consensus forecast of a 1.5 million barrel decrease. The build in inventories suggests weaker demand or higher production than previously estimated.

Analysts are closely watching inventory levels as indicators of supply and demand balance. A sustained build in crude inventories could signal a weakening economy and potentially lead to lower oil prices.

Here are some factors that may have contributed to the unexpected inventory increase:

• Lower refinery runs: Refineries may have reduced their processing rates, leading to less crude oil being consumed.
• Increased imports: Higher crude oil imports could have added to the overall inventory levels.
• Weaker demand: A slowdown in economic activity could have reduced demand for gasoline and other petroleum products.

The market will be closely monitoring future inventory reports to assess whether this week’s increase is a temporary blip or the start of a longer-term trend.