API Says US Crude Stocks Down More Than Expected In Weekly Estimates
Investing.com - The American Petroleum Institute (API) said Tuesday that crude oil supplies fell by 7.382 million barrels last week, while gasoline inventories gained by 2.3 million barrels and distillate stocks increased 1.5 million barrels.
Investors expected a 3.759 million barrels drop in crude supplies and a 902,000 build in distillates and a 2.457 million barrels build in gasoline. The estimates from API are followed on Wednesday by official figures from the Energy Information Administration.
Inventories at the oil storage hub of Cushing, Oklahoma, fell by 2.7 million barrels.
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API Says US Crude Stocks Down More Than Expected In Weekly Estimates
