Crude Oil Stocks Down 1.562 Mln Barrels In Latest API Weekly Estimates

Investing.com – oil stocks fell by 1.562 million barrels last week, the American Petroleum Institute said on Tuesday, less than expected. Gasoline stocks rose by 520,000 barrels, while distillate inventories slipped 3.133 million barrels.

Analysts expected a 2.7 million barrels drop in crude, a 2.100 million barrels decline in distillates and a 2.176 million barrels easing in gasoline inventories expected. Supplies at the oil storage hub of Cushing, Oklahoma, rose by 812,000 barrels.

On Wednesday, the Energy Information Administration (EIA) releases official data. The API and EIA data sets often diverge.

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