US crude inventories moved higher last week after a surge of imports pushed US Gulf Coast stockpiles to fresh all-time highs, US Energy Information Administration data showed Thursday. US commercial crude inventories climbed 7.93 million barrels during the week ended May 22 to 534.42 million barrels, EIA reported. The build snapped back-to-back weekly declines and pushed stock levels to the highest since March 2017. The build was centered on the US Gulf Coast, where stockpiles swelled 10.25 million barrels to 295.15 million barrels. Notably inventories at the NYMEX crude delivery point of Cushing, Oklahoma, declined for a third straight week, falling 3.4 million barrels to 53.46 million barrels. […]