U.S. crude oil inventories experienced a shift this week, with builds recorded across the board, while gasoline and distillate inventories also increased.
Crude oil inventories in the United States rose this week, by 180,000 barrels for the week ending August 2, according to The American Petroleum Institute API , after analysts predicted an 850,000 barrel build. For the week prior, the API reported a 4.495 million barrel draw in crude inventories. This week’s build ends five weeks of API -estimated inventory draws for crude oil, halting a total loss of 24 million barrels during that time.
42—down more than $2 per barrel from this time last week. The U.S. benchmark WTI was also trading up on the day by $0.21 0.29% at $73.15—down roughly $2 per barrel from this time last week. Gasoline inventories also rose this week, by 3.31 million barrels, more than offsetting last week’s 1.917-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.
Crude Oil Inventories Gasoline Inventories Distillate Inventories API EIA Strategic Petroleum Reserve Cushing Commodities Energy
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