Energy Preview: EIA Crude Inventories Near Five Month High

US crude oil inventories jumped last week, bringing overall supply to its highest level since December, the Energy Information Administration (EIA) stated in a weekly update on Wednesday. Crude inventories jumped by 6.2 million barrels to about 436 million barrels in the week to April 27. Refinery crude runs fell by 60,000 barrels per day and refinery utilization rates rose by 0.3 percentage points to 91.1 percent of total capacity, EIA data showed. US Crude oil production continued to rise, hitting a new weekly record of 10.62 million bpd. Crude stocks at the Cushing, Oklahoma, delivery hub also rose by 416,000 barrels.