Energy Preview: API Reports Rise In US Crude Oil Inventories By 1.86 Million Barrels

20 Jul 2022 , 08:48 AM

The American Petroleum Institute (API) on Tuesday reported an increase of 1.86 million barrels of crude oil in U.S. inventories for the week ending July 15. The build comes as the Department of Energy released 5 million barrels from the Strategic Petroleum Reserves in Week Ending July 15 to 480.1 million barrels. The API reported a surge of 4.762 million barrels in the previous week. U.S. crude inventories have shed some 61 million barrels since the start of 2021, with a 1.83 million barrel gain since the start of 2020, according to API data. Powered by Commodity Insights