Get 40% Off
🚀 Our AI Picked 6 Stocks that Jumped +25% in Q1. Which Picks Will Soar in Q2?Unlock full list

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

Published 07/20/2021, 04:34 PM
Updated 07/20/2021, 04:46 PM
© 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.

Latest comments

keep shorting it
Work from home trend + growing popularity of green energy vehicles = lower fuel demand around the globe.
I think green energy is little part which can affect oil demand,
How does 800,000 Barrels just go unnoticed, for even a millisecond???
Who's checking the checkers???
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.
Just like magic huh? Liars. Thieves and liars.
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.
I wish they'd provide estimates everybody knows as long as they beat estimates etc
Unexpectedly... who trust this?
stock market will return back soon
Yes
Nasiru SABO
about how much do I need to invest in a few barrows of that
it depends on how much you want to start up with or deposit the amount you wish to earn as your profits
how much is that stock
hi
Yo
hi
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.