Oil Inventories Jump by 5.2M Barrels Last Week: API

imageCommodities20 minutes ago (Oct 13, 2021 05:07PM ET)

(C) Reuters.

By Yasin Ebrahim

Investing.com – U.S. crude stockpiles rose more than expected last week, while gasoline supplies dropped sharply at a time when demand is expected to remain elevated.

West Texas Intermediate, the benchmark traded at $80.59 a barrel on the news, after settling up 0.25% at $80.44 a barrel.

U.S. crude inventories increased by 5.2 million barrels for the week ended Oct. 8. That compared with a build of 951,000 barrels reported by the API for the previous week. Economists were expecting a build of about 140,000 barrels.

The API also showed that gasoline inventories fell by about 4.6 million last week, and distillate stocks declined by about 2.7 million barrels.

The official government inventory report due Thursday is expected to show weekly U.S. crude supplies increased by about 702,000 barrels last week.

Oil Inventories Jump by 5.2M Barrels Last Week: API

U.S. Crude Dips a Trickle as Weekly Inventory Awaited

U.S. Crude Dips a Trickle as Weekly Inventory Awaited
By Investing.com – Oct 13, 2021

By Barani Krishnan
Investing.com – U.S. crude prices dipped for the first time in five days on Wednesday but stayed firmly above the $80 per barrel mark as the trade awaited…

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