The U.S. API reported draws across the board this week, leading to a small jump in crude oil prices
Crude oil inventories in the United fell by 573,000 barrels for the week ending October 25, according to The American Petroleum Institute API . Analysts had expected a build of 2.3 million barrels. For the week prior, the API reported a 1.643-million-barrel build in crude inventories. So far this year, crude oil inventories have slumped by just over 6 million barrels since the beginning of the year, according to API data.
50 per barrel loss from this time last week. The U.S. benchmark WTI was also trading down on the day by $0.08 -0.12% at $67.30—down almost $5 per barrel from last Tuesday. Gasoline inventories fell this week by 282,000 barrels, on top of last week’s 2.019-million-barrel decrease. 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 fell by 1.463 million barrels, on top of last week’s 1.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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