US crude inventories rose 4.66M barrels last week, EIA says

The scale of the miss against consensus is the story here: a build of this size against forecasts of a draw points to a sharper demand or supply mismatch than analysts had modeled, and the API's own larger build suggests the direction was visible to some trackers first. The distillate draw alongside a crude build hints at refinery behavior rather than pure demand weakness, which complicates the read-through for product cracks. Whether the crude build reflects a one-off timing effect or a sustained surplus is the open question.