USD weakens as oil inventory build exceeds expectations, crude unmoved

US crude oil inventories unexpectedly surged by 2.415 million barrels versus expectations of a 2.031 million barrel draw, marking a significant miss that typically pressures oil prices and weighs on commodity currencies. The build contrasts sharply with the previous week's 2.392 million barrel decline. Distillate stocks also rose 1.681 million barrels against a projected 598,000 barrel draw, while gasoline inventories fell 3.795 million barrels, exceeding the expected 1.068 million decline. Despite the bearish crude data, WTI oil prices remained largely unchanged in immediate trading, suggesting the market may have already priced in supply concerns. The muted reaction indicates traders are focusing more on broader economic indicators than energy fundamentals. For forex traders, the lack of oil price movement limits immediate impact on commodity-linked currencies like CAD and NOK, though sustained inventory builds could eventually weaken these pairs against majors.