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Oil Inventories Rose by 2.3M Barrels Last Week: API

Published 10/26/2021, 04:40 PM
Updated 10/26/2021, 04:52 PM
© Reuters.

© Reuters.

By Yasin Ebrahim

Investing.com - U.S. crude stockpiles rose more than expected last week, but that did little to ease fears that demand will continue outstrip supply amid an ongoing energy crunch.                  

West Texas Intermediate, the benchmark traded at $84.47 a barrel on the news, after settling up 89 cents at $84.65 a barrel.

U.S. crude inventories increased by 2.3 million barrels for the week ended Oct. 15. That compared with a build of 3.3 million barrels reported by the API for the previous week. Economists were expecting a build of about 1.7 million barrels.

The API also showed that gasoline inventories rose by 530,000 barrels last week, and distillate stocks increased by 986,000 barrels.

The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies increased by about 1.9 million barrels last week.

Latest comments

Ofcurs because nowadays oil and petroleum can only help the people to continue with their transportation without any bothering.
This is the more important number, Cushing actually measures their 400 tanks, API/EIA take a survey and produce an "estimate." The industry-funded American Petroleum Institute reported crude supplies at Cushing fell 3.73 million barrels last week, according to people familiar with the data.
oilyfingers
Rbob gasoline should already be above 2.60
hi
really
if oil is increasing with of petroleum
Api: oil inventory increases by 2.3 million barrlels and oil stays stable and tomorrow eia says oil inventory decreased by 2.3 million barrel and oil moves 4 dollar more lol note am not short on oil just an opinion.
oil going up to near $100 per barrel.
Why not make it $900? I'm sure the Saudis would love that.
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