‎US crude oil inventories up 6M last week: API

‎US crude oil inventories up 6M last week: API ‎US crude oil inventories up 6M last week: API

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Oil tanks

Commercial inventories of crude oil and gasoline in the United States rose last week, according to estimates by the American Petroleum Institute (API), while distillate inventories declined.

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Crude oil inventories increased by 6.1 million barrels during the week ended April 10, API said in a report published April 14.

Gasoline inventories also rose by 626,000 barrels during the same period, while distillate inventories – including diesel and heating oil – fell by 3.36 million barrels.

Official data from the Energy Information Administration is due to be released on April 16, when analysts predict a 900,000-barrel increase in crude oil inventories.

At the close of trading on April 14, Brent crude futures for June delivery fell 4.60%, or $4.57, to $94.79 a barrel.

WTI crude oil futures for May delivery also fell by 7.87%, or $7.80, to $91.28 a barrel.

 

Oil tanks

Commercial inventories of crude oil and gasoline in the United States rose last week, according to estimates by the American Petroleum Institute (API), while distillate inventories declined.

Crude oil inventories increased by 6.1 million barrels during the week ended April 10, API said in a report published April 14.

Gasoline inventories also rose by 626,000 barrels during the same period, while distillate inventories – including diesel and heating oil – fell by 3.36 million barrels.

Official data from the Energy Information Administration is due to be released on April 16, when analysts predict a 900,000-barrel increase in crude oil inventories.

At the close of trading on April 14, Brent crude futures for June delivery fell 4.60%, or $4.57, to $94.79 a barrel.

WTI crude oil futures for May delivery also fell by 7.87%, or $7.80, to $91.28 a barrel.

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