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API Shows Unexpected Build In U.S. Crude Oil Inventories

API estimates

Investing.com - U.S. crude oil stocks rose a more-than-expected 3.097 million barrels at the end of last week, the American Petroleum Institute (API) said on Tuesday, while gasoline inventories fell by 1.575 million barrels and distillates gained 2.029 million barrels.

Supplies at the storage hub of Cushing, Oklahoma, rose by 1.216 million barrels.

Crude oil inventories weree seen down by 1.8 million barrels, distillates down by 2.375 million barrels and gasoline stocks expected to show a 1.025 million barrels decline.

The API estimates will be followed by official data on Thursday from the Energy Information Administration (EIA). The API and EIA figures often diverge.


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