U.S. crude oil inventories increased by more than expected last week in a fourth consecutive build, while product stocks declined, according to U.S. government data.

Crude oil futures edged higher Thursday as near-term supply concerns were partly offset by a larger than expected rise in U.S. crude stockpiles despite a drop in net imports. The U.S. Energy Information Administration said domestic inventories rose 4.

Commercial crude stockpiles in the US jumped more than projected last week even as distillate fuel and propane inventories fell, government data showed Thursday. Inventories of crude, excluding the strategic petroleum reserve,