Crude oil inventories in the United States rose slightly this week, by 347,000 barrels for the week ending August 16
, according to The American Petroleum Institute API , after analysts predicted a 2.9 million barrel dip. For the week prior, the API reported a 5.205-million-barrel decrease in crude inventories. So far this year, crude oil inventories are close to where they were at the start of the year, having increased by 760,000 barrels, according to API data. On Monday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by another 0.
benchmark WTI was also trading up on the day by $0.63 0.85% at $75.00—down more than $3 per barrel from this time last week. Gasoline inventories fell this week, by 1.043 million barrels, on top of last week’s 3.689-million-barrel decrease. Analysts had predicted a 400,000-barrel draw. As of last week, gasoline inventories are 3% below the five-year average for this time of year, according to the latest EIA data. Distillate inventories saw a decrease this week of 2.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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