US Private Inventory Data (bbls): Crude +2.3mln (exp. -1.4mln), Distillate +1.4mln (exp. -1.4mln), Gasoline +0.5mln (exp. -1.9mln), Cushing +4.0mln

The data shows a substantial increase in US crude inventories, which sharply contrasts with expectations for a decline. This significant build could weigh on oil prices, as it suggests weaker demand or excess supply, and may shift market sentiment regarding future pricing, particularly for WTI and Brent. Additionally, the builds in distillate and gasoline inventories further reinforce an oversupplied energy market narrative.