On November 6, the latest weekly oil status report released by the U.S. Energy Information Administration (EIA) showed that U.S. crude oil inventories increased by 2.1 million barrels from the previous week, higher than analysts 'expectations of 1.8 million barrels.Currently, U.S. crude oil inventories are about 5% below the five-year average for the same period.

Total gasoline inventories increased by 400,000 barrels, compared with analysts 'expectations for a decrease of 1.2 million barrels.Distillate fuel inventories increased by 2.9 million barrels, indicating new changes in the demand and supply of refined oil products.

U.S. crude oil imports increased by 265,000 barrels per day this week to 6.2 million barrels per day, compared with an average of 6 million barrels per day over the past four weeks.In addition, the United States continued to purchase strategic oil reserves, increasing reserves from 385.8 million barrels to 387.2 million barrels.

Domestic crude oil output remained unchanged at 13.5 million barrels per day.In recent months, the continued rise in U.S. crude oil production has posed a negative factor for the oil market.

After the release of the EIA report, WTI crude oil prices rose accordingly and are currently trying to break through the US$72.30 per barrel barrier.At the same time, Brent crude oil prices also rose, breaking through the US$75.50 level.On the same day, the news of Trump's victory intensified market fluctuations and further affected the trend of oil prices.