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Oil Inventories Unexpectedly Rise by 800K Barrels Last Week: API

CommoditiesJul 20, 2021 04:46PM ET
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© Reuters.

By Yasin Ebrahim

Investing.com - U.S. crude stockpiles unexpectedly rose for the first time in nine weeks at a time when rising Covid-19 infections threaten the demand outlook, according to a report from the API.

West Texas Intermediate, the benchmark climbed by 51 cents, to $66.86 a barrel on the news, after settling up $1.0 to $67.42 a barrel.

U.S. crude inventories increased by 0.81 million barrels for the week ended July 15. That compared with a draw of 4.1 million barrels reported by the API for the previous week.

The API also showed that gasoline inventories increased by about 3.3 million last week, compared with a 1.5 million build in the prior week, and distillate stocks fell by about 1.2 million barrels.

The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies declined by about 4.5 million barrels last week.

Oil Inventories Unexpectedly Rise by 800K Barrels Last Week: API
 

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Comments (13)
Jim Morrison
Jim Morrison Jul 20, 2021 9:05PM ET
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keep shorting it
Joel Schwartz
Joel Schwartz Jul 20, 2021 7:02PM ET
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Work from home trend + growing popularity of green energy vehicles = lower fuel demand around the globe.
또라이 선천적
또라이 선천적 Jul 20, 2021 7:02PM ET
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I think green energy is little part which can affect oil demand,
George Cleancut
George Cleancut Jul 20, 2021 6:57PM ET
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How does 800,000 Barrels just go unnoticed, for even a millisecond???
William Turri
William Turri Jul 20, 2021 6:44PM ET
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Who's checking the checkers???
George Cleancut
George Cleancut Jul 20, 2021 6:22PM ET
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Unexpectedly LOL!!!!! Dorthy we not in Kansas anymore. Remember when they found out the Wizard was a man pushing buttons behind smoke and mirrors. Yea that's the stock market.
Install Expert
Install Expert Jul 20, 2021 6:10PM ET
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Just like magic huh? Liars. Thieves and liars.
George Cleancut
George Cleancut Jul 20, 2021 6:10PM ET
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Bro watch the News listen to the words. Watch and Spectate. The show is amazing. I laugh so hard and cry cause I lost $14,000 in the market to the lies.
Puck roger
Puck roger Jul 20, 2021 5:44PM ET
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I wish they'd provide estimates everybody knows as long as they beat estimates etc
milan duchon
myprivate Jul 20, 2021 5:38PM ET
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Unexpectedly... who trust this?
Aung Hein
Aung Hein Jul 20, 2021 5:38PM ET
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stock market will return back soon
nasiru sabo
nasiru sabo Jul 20, 2021 5:04PM ET
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Yes
nasiru sabo
nasiru sabo Jul 20, 2021 5:03PM ET
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Nasiru SABO
Marquette Barnes
Marquette Barnes Jul 20, 2021 5:01PM ET
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about how much do I need to invest in a few barrows of that
Aung Hein
Aung Hein Jul 20, 2021 5:01PM ET
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it depends on how much you want to start up with or deposit the amount you wish to earn as your profits
Marquette Barnes
Marquette Barnes Jul 20, 2021 4:59PM ET
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how much is that stock
Muhammad Jonaid
Muhammad Jonaid Jul 20, 2021 4:57PM ET
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Michael Murfield
Michael Murfield Jul 20, 2021 4:57PM ET
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emad hijazi
emad hijazi Jul 20, 2021 4:57PM ET
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