The American Petroleum Institute (API) estimated that crude oil inventories in the United rose by 2.86 million barrels for the week ending January 17. Analysts had expected a 3.7-million-barrel build. For the week prior, the API reported a 1 million barrel build in U.S. crude oil inventories, while product inventories saw a hefty build for multiple weeks in a row. In 2024, crude oil inventories dropped by more than 12 million barrels, according to the API’s inventory data, with the downward trend continuing beyond the new year. Earlier…
Crude, Gasoline Inventories Rise as Distillates See Large Decline
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