Crude oil inventories in the United States rose this week, but were countered somewhat by declines in product stocks
Crude oil inventories in the United States rose this week by 4.09 million barrels for the week ending April 12, according to The American Petroleum Institute API . Crude productions, including gasoline and diesel, however, were draws. This comes after the API reported a 3.034 million barrel build in crude inventories in the week prior. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by another 0.
18% on the day at $89.94, up $0.40 per barrel from this time last week. The U.S. benchmark WTI was also trading down on the day by 0.15% at $85.28, and relatively flat week over week. Gasoline inventories fell this week by 2.51 million barrels, after falling 609,000 barrels in the week prior. As of last week, gasoline inventories were about 3% below the five-year average for this time of year, according to the latest EIA data.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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