API Says US Crude Oil Stocks Down 1.050 Mln Barrels Last Week, Build Expected

Investing.com – The American Petroleum Institute (API) said Tuesday that US supplies fell by a surprise 1.050 million barrels last week.

Gasoline inventories declined by 227,000 barrels, while distillate supplies jumped 4.552 million barrels. Analysts expected a build of 3.189 million barrels, gasoline stocks up by 459,000 barrels and distillates expected down 1.419 million barrels.

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

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