The American Petroleum Institute reports a significant drawdown in U.S. crude inventories, while product inventories, including gasoline and distillate, see a build, amidst fluctuating oil prices.
Start Trading CFDs Over 2,200 Different InstrumentsStart Trading CFDs Over 2,200 Different Instruments12 hours1 day2 days5 daysJulianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.The American Petroleum Institute has reported a large draw of 4.210 million barrels in U.S. crude inventories, compared to last week’s 1.586-million-barrel build.
Gasoline inventories rose this week by 3.946 million barrels, compared to the 70,000 barrel draw in the week prior. Gasoline inventories are roughly 2% less than the five-year average for this time of year. Distillate inventories rose by 349,000 barrels, compared to the 1.698-million-barrel dip in the week prior, and are now about 13% below the five-year average for this time of year.
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