Investing.com -- Crude oil stockpiles grew last week, contrary to expectations, according to the Energy Information Administration.
Oil inventories rose 4.9 million barrels, the government said, compared to expectations for a draw of 2 million barrels.
The industry's own estimate, which was released Tuesday, said oil inventories rose more than 7.5 million barrels last week, mostly reversing the 8.3 million draw the previous week. Crude prices settled near a four-month high on Tuesday before the unexpectedly large increase in inventory was disclosed.
Oil stored at the Cushing, Oklahoma, facility rose 1.37 million barrels, far more than expectations for a build of 769,000 barrels.