Commodities Buzz: US API Crude Oil Inventories Up Last Week

8 Sep 2022 , 09:25 AM

The American Petroleum Institute (API) reported a build last week for crude oil of 3.645 million barrels. The build comes as the Department of Energy released 7.5 million barrels from the Strategic Petroleum Reserves in the week ending September 2, leaving the SPR with just 442.5 million barrels. In the week prior, the API reported a build in crude oil inventories of 593,000 barrels. The API reported a draw in gasoline inventories of 836,000 barrels for the week ending September 2, compared to the previous weeks 3.414-barrel draw. Distillate stocks saw a build of 1.833 million barrels, compared to previous weeks 1.726-million-barrel decrease.Powered by Commodity Insights