Home›Commodities›Energy›API estimates US crude inventories rose by 1.019 milli…

API estimates US crude inventories rose by 1.019 million barrels

The API data showed analysts expected a 1.9 million barrel draw, and commercial crude inventories excluding the SPR have fallen 38 million barrels over the past 24 weeks.

Reported · Written up by our desk · Energy

HousingWire reports the American Petroleum Institute, or API, estimated US crude oil inventories rose by 1.019 million barrels in the week ending September 25. The API estimate followed a prior week in which US crude oil inventories grew by 1.786 million barrels.

According to OilPrice, analysts had expected a 1.9 million barrel draw for the latest week. The report also notes that commercial crude oil inventories excluding the Strategic Petroleum Reserve have declined by 38 million barrels over the last 24 weeks.

OilPrice added that the inventory trends are shaping expectations for supply and stocks heading into the next reporting period.

Latest closeWTI crude $93.42 ▲1.1%

More like this

Sources