Crude oil inventories in the United States rose this week, by 7.168 million barrels for the week ending February 16
, according to The American Petroleum Institute API, after analysts predicted a build of 4.298 million barrels. The API reported an 8.52-million-barrel rise in crude inventories in the week prior. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by 0.7 million barrels as of February 16. Inventories are now at 359.5 million barrels—the highest level since May 2023.
30 per barrel compared to last Tuesday. The U.S. benchmark WTI was trading up on the day by 1.05% at $77.85, up just $0.10 per barrel compared to last Tuesday. Gasoline inventories saw a build this week, adding 415,000 barrels, compared to the large 7.23 million barrels drawdown in the week prior. As of last week, gasoline inventories were about 2% below the five-year average for this time of year, according to the latest EIA data. Distillate inventories fell this week, by 2.
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