Energy Preview: API crude oil inventories in US dip by 2.5 million barrel

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 2.6 million barrels for the week ending January 10. For the week prior, the API reported a draw of 4.022-million-barrel in U.S. crude oil inventories in the midst of build season, while product inventories saw a hefty build. In 2024, crude oil inventories dropped by more than 12 million barrels, according to the API?s inventory data. In the first few weeks of 2025, crude inventories have shed more than 6.6 million barrels. Gasoline inventories rose last week by 5.39 million barrels after previous week?s large 7.331-million-barrel increase.

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