First Squawk(@FirstSquawk):US Crude Inventories Surge Unexpected U.S. crude inventories jumped 17.423 million barrels, far above the 1.8 million-barrel draw expected. Cushing stocks also rose by 1.611 million barrels. Gasoline inventories fell 968,000 barrels, while distillates were nearly unchanged. The data points to a much looser crude market than analysts had anticipated.

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US Crude Inventories Surge Unexpected U.S. crude inventories jumped 17.423 million barrels, far above the 1.8 million-barrel draw expected. Cushing stocks also rose by 1.611 million barrels. Gasoline inventories fell 968,000 barrels, while distillates were nearly unchanged. The data points to a much looser crude market than analysts had anticipated.