Energy Preview: API data shows US crude inventories surge by 10.263 million barrels

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by a staggering 10.263 million barrels in the week ending March 27. In the week prior, US crude oil inventories rose by 2.3 million barrels. Analysts had expected a draw of 1.3 million barrels in the current reporting period. Gasoline inventories fell this week by 3.209 million barrels in the week ending March 27. In the week prior, gasoline inventories rose by 500,000 barrels.

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