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Sunday, December 5, 2021

U.S. Crude Inventories Up 6.531 Mln Barrels, Miss Expectations For Draw

U.S. Crude Inventories Up 6.531 Mln Barrels, Miss Expectations For Draw© Reuters. API estimates

Investing.com – oil inventories rose 6.531 million barrels last week, the American Petroleum Institute said Tuesday, missing expectations for a draw, while gasoline supplies increased by 2.399 million barrels and distillates fell by 2.572 million barrels.

Crude oil stocks in the U.S. were seen down 2.850 million barrels, while distillates were expected to post a drop of 1.775 million barrels and gasoline inventories expected down 1.025 million barrels.

Supplies at the oil storage hub of Cushing, Oklahoma, fell 1.803 million barrels.

The API estimate are followed by official data from the Energy Information Administration on Wednesday. The API and EIA figures often diverge.

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Source: Investing.com

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