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Oil Inventories Rise by 4.3M Barrels Last Week: API

Published 04/27/2021, 02:58 PM
Updated 04/27/2021, 04:55 PM
© Reuters.

By Yasin Ebrahim - U.S. crude stockpiles rose last week, but that did little to take the shine off a good day for oil prices after major producers decided to stick with plans to gradually lift output. 

West Texas Intermediate, the benchmark for U.S. crude prices, was up $1.18 a barrel on the news, after settling up $1.03 at $62.44 a barrel.

U.S. crude inventories rose by 4.3 million barrels for the week ended April 22, according to an estimate released Tuesday by the American Petroleum Institute. That compared with a rise of 0.43 million barrels reported by the API for the previous week.

The API also showed that gasoline inventories fell by about 1.29 million last week, compared with a 1.62 million fall in the prior week, and distillate stocks slipped by about 2.42 million barrels. 

The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies increased by about 0.66 million barrels last week. 


Latest comments

The biggest mafia scam there is for the US government. Control bond prices by buying and selling them digitally, controling the almighty dollar, which in turn controls oil prices. The petro dollar, the second most out dated thing, the U.N. being the first of coarse.
I think that crude oil price in india commodity are between 4572 to 4785
send me any information
so who's bearish report is this if not the official one? someone had puts today? how would the govt and this institution be 4 million barrels apart lol..... both cant count?
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