03:11 PM EDT, 04/02/2025 (MT Newswires) -- Commercial crude stockpiles in the US unexpectedly increased last week amid gains in propane and propylene inventories, government data showed Wednesday.

Inventories of crude, excluding the strategic petroleum reserve, rose by 6.2 million barrels to 439.8 million barrels through the week ended Friday, the Energy Information Administration said. The consensus was for a decline of 500,000 barrels in a survey compiled by Bloomberg.

Propane and propylene stocks advanced by 1 million barrels, while distillate fuel inventories increased by 300,000 barrels. Motor gasoline stocks dropped by 1.6 million barrels. Total commercial petroleum inventories rose by 5.4 million barrels, the EIA said.

Both gasoline and distillate fuel output increased last week, the data showed.

West Texas Intermediate crude oil was up 0.8% at $71.80 a barrel in Wednesday late-afternoon trade, while Brent advanced 0.7% to $75.02.

President Donald Trump is scheduled to announce reciprocal tariffs on other countries at 4 pm ET Wednesday at a White House event. The Trump administration has previously proposed or implemented tariffs on its key trading partners, including China, Canada and the European Union, which have all announced retaliatory tariffs.

Brent prices have stabilized recently after hitting a four-year low earlier this year, Saxo Bank said in a report published Wednesday. "Prices have been weighed down by fears that Trump's aggressive trade policies may trigger a global trade war that would negatively impact global growth and demand," Saxo Head of Commodity Strategy Ole Hansen wrote.

Traders have also been "spooked" by a plan by the Organization of the Petroleum Exporting Countries and its allies to gradually begin reviving output from this month, Hansen said. "However, while the monthly increases are relatively small, there is a real threat that production from Iran and Venezuela may suffer as the US ramps up sanctions."