03:45 PM EDT, 07/30/2025 (MT Newswires) -- Commercial crude stockpiles in the US unexpectedly increased last week as distillate fuel, propane and propylene inventories grew, government data showed Wednesday.

Inventories of crude, excluding the strategic petroleum reserve, rose by 7.7 million barrels to 426.7 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a draw of 2.6 million barrels in a survey compiled by Bloomberg.

Distillate fuel added 3.6 million barrels, while propane and propylene inventories were up by 1.1 million barrels. Motor gasoline stocks fell by 2.7 million barrels. Total commercial petroleum stockpile grew by 7.1 million barrels.

West Texas Intermediate crude was up 1.5% at $70.21 a barrel in Wednesday late-afternoon trade, while Brent rose 1.2% to $72.55, both on track to extend their daily gains.

US President Donald Trump recently gave Russia a 10-day deadline to reach a ceasefire agreement with Ukraine, ING Bank said in a report published Wednesday. Failing to strike a deal risks additional sanctions on Moscow and secondary tariffs on countries importing Russian oil, the firm wrote.

"Effective 100% secondary tariffs would lead to a dramatic shift in the oil market," ING said. Several important Russian oil buyers are expected to be "reluctant" to continue purchases, especially large US trading partners, the firm said. "The impact on the oil balance and prices would be significant."