U.S. crude stockpiles rose 622K barrels last week, API says

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The American Petroleum Institute reportedly shows a surprise build of 622K barrels of oil in U.S. commercial stockpiles for the week ending August 29.

Gasoline inventories reportedly show a draw of 4.57M barrels for the week, distillate inventories show a build of 3.68M barrels, and Cushing inventories show a build of 2.06M barrels for the week.

The Energy Information Administration will release its weekly U.S. petroleum supply report on Thursday; the averages of analysts surveyed by _The Wall Street Journal_ forecast domestic commercial crude stocks fell by 2M barrels, gasoline inventories were expected to fall by 1.3M barrels, and distillate inventories were seen falling by 1.1M barrels.

WTI october crude oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM]) recently traded at $63.90/bbl, little changed from its $63.97/bbl settlement price.

ETF: (NYSEARCA:USO [https://seekingalpha.com/symbol/USO])

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