Energy Preview: API data shows a 3.7 million-barrel drop in US crude inventories

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by another 3.674 million barrels in the week ending September 30. This is on top of last week?s 3.821 million barrel draw. So far this year, net crude oil inventories have swung to a loss this week of 2.22 million barrels. Gasoline inventories rose by 1.3 million barrels in the week ending September 26, after falling by 1.046 million barrels in the week prior.

Powered by Commodity Insights