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API estimates show 4.7 million barrels crude build last week

Published 12/13/2016, 05:05 PM
Updated 12/13/2016, 05:09 PM
© Reuters.  API reports build

Investing.com - The American Petroleum Institute said late Tuesday that U.S. crude oil inventories soared 4.7 million barrels last week, well above an expected 1.5 million barrel drop.

Gasoline inventories rose 3.9 million barrels and distillates gained 200,000 barrels, while Cushing showed a 600,000 barrel increase.

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Dvn went up $6.5 last meeting...this non-member-OPEC meeting, which is more important in my opinion, caused substantial losses...I think it's early open increases followed by substantial profit-taking in the aternoon
Meanwhile had to take a loss on an Opec meeting. It's going down. No demand on this part of the world until driving season.
Everytime there are is a ray of sunlight in the price of oil Increase there is always an over production of oil in the West. Also a continuous midpoint of reserves to keep the prices lower... What a frustrating
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