U.S. Crude Oil Inventories Drop Nearly 5 Mln Barrels, API Says
Investing.com - U.S. crude oil inventories fell by 4.08 million barrels last week, the American Petroleum Institute said on Tuesday, far more than expected while gasoline supplies gained 4.91 million barrels and distillates eased by 584,000 barrels. Supplies at the oil storage hub of Cushing, Oklahoma, rose by 2.084 million barrels.
Crude oil inventories were seen down by 467,000 barrels, while distillates likely declined by 1.1917 million barrels and gasoline stocks rose 967,000 barrels. Official data from the Energy Information Administration (EIA) is due on Wednesday.
The API and EIA figures often diverge.
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U.S. Crude Oil Inventories Drop Nearly 5 Mln Barrels, API Says