Oil prices fell today after the API reported a small build in crude and a more sizeable build in gasoline inventories
Crude oil inventories in the United States rose this week by 914,000 barrels for the week ending June 21, according to The American Petroleum Institute API , after analysts had expected a 3 million barrel draw. For the week prior, the API reported a 2.264 million barrel build in crude inventories. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by 1.3 million barrels as of June 21. Inventories are now at 372.
92—and down about $0.30 per barrel from this time last week. The U.S. benchmark WTI was also trading down on the day at -1.05% to $80.77—down roughly $0.70 from this time last week. Gasoline inventories rose this week, by 3.843 million barrels, after last week’s 1.077-million-barrel decrease. As of last week, gasoline inventories are 1% below the five-year average for this time of year, according to the latest EIA data. Distillate inventories fell this week by 1.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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