The American Petroleum Institute (API) reported a large build this week for crude oil of 5.618 million barrels. U.S. crude inventories have grown by roughly 31 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by more than six times that figure, at 197 million barrels. The build in … Read more
Oil prices didn’t extend gains today after the Energy Information Administration reported a crude oil inventory decline of 3.3 million barrels for the week to August 19. This compared with a draw of 7.1 million barrels estimated for the previous week by the Department of Energy agency. One day before, the American Petroleum Institute had … Read more
Crude oil prices moved higher today, after the Energy Information Administration estimated a draw in oil inventories of 7.1 million barrels for the week to August 12. This compared with a build of 5.5 million barrels reported for the previous week. A day earlier, the American Petroleum Institute estimated a modest crude draw of 448,000 … Read more
Oil prices climbed higher today after the U.S. Energy Information Administration reported a crude oil inventory draw of 2.8 million barrels for the week to June 24. A day earlier, the American Petroleum Institute estimated an inventory draw of 3.8 million barrels for the week to June 24, after reporting its biggest oil inventory build … Read more