Crude oil inventories in the United States fell this week by 2.428 million barrels for the week ending June 7
, according to The American Petroleum Institute API , after analysts had forecast a 1.75 million barrel draw. For the week prior, the API reported a surprise 4.052 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 0.3 million barrels as of June 7. Inventories are now at 370.
84—up roughly $4 per barrel from this time last week as the market recovered from last week’s dropoff in prices following the OPEC decision. The U.S. benchmark WTI was also trading up on the day at 0.14% to $77.85—a nearly $4.50 gain week over week. Gasoline inventories also fell this week, by 2.549 million barrels, partially ofsetting last week’s 4.026-million-barrel increase.
Oil Inventories Crude Gasoline Refining Distillates Downstream
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
API Reports Significant Draw in Crude Oil InventoriesU.S. crude oil and gasoline inventories declined this week, impacting oil prices and the energy landscape.
Read more »
Oil Under Pressure As EIA Confirms Rising Crude, Fuel InventoriesCrude oil prices moved lower today, after the U.S. Energy Information Administrationreportedan estimated inventory build of 1.2 million barrels
Read more »
U.S. Crude Oil Inventories See Surprise DrawCrude oil inventories in the United States fell this week by 3.104 million barrels for the week ending May 3
Read more »
U.S. Crude Oil, Gasoline Inventories See Sizable GainsOil prices came under pressure on Tuesday afternoon after the API reported a rise in both crude and gasoline stocks
Read more »
Oil Prices Fall After API Reports Large Surprise Builds in Crude And ProductsOil prices continued to fall on Tuesday afternoon after the API confirmed a build across the board
Read more »
Oil Slides as EIA Reports Crude Inventory Decline, Fuel BuildsOil prices remained stable despite a decline in crude inventories, as fuel inventories rose and traders weighed demand concerns against supply uncertainty.
Read more »