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US Crude Oil Stocks Rose 3.229 Million Barrels Last Week, API Says

US Crude Oil Stocks Rose 3.229 Million Barrels Last Week, API Says© Reuters. API estimates

Investing.com – US stocks rose 3.229 million barrels last week, the American Petroleum Institute (API) said on Tuesday, above expectations.

Gasoline inventories rose by 2.692 million barrels and distillate supplies fell by 4.096 million barels. Analysts expected crude to show a 126,000 barrels build and distillates down by 1.454 million barrels with gasoline seen up by 1.809 million barrels.

Supplies at the oil hub of Cushing, Oklahoma fell 2.383 million barrels.

The API estimates will be followed by official data from the Energy Information Administration (EIA) on Wednesday.

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Source: Investing.com

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