The latest data from the American Petroleum Institute (API) reveals significant changes in US oil and fuel inventories for the week. The crude oil stock saw an increase of 3.034 million barrels, surpassing the forecast of 2.415 million and reversing the previous decline of 2.286 million barrels. Meanwhile, gasoline stocks decreased by 609,000 barrels, and distillate stocks rose by 120,000 barrels. The Cushing stock also experienced a slight increase of 124,000 barrels. Additionally, the Strategic Petroleum Reserve (SPR) saw an increase of 600,000 barrels. These fluctuations in inventory levels are crucial indicators for the oil market, reflecting supply and demand dynamics.
Sources
Energy Headline NewsAPI Crude +3.034 million (+2.415 million exp.) Gasoline -609,000 Distillates +120,000 Cushing +124,000 SPR +600,000 @JuliOnTwtr
FinancialJuice
🔴 US API GASOLINE STOCK CHANGE ACTUAL -0.609M (FORECAST -, PREVIOUS -1.461M) $MACRO
- FinancialJuice
🔴 US API DISTILLATE STOCK CHANGE ACTUAL 0.120M (FORECAST -, PREVIOUS -2.548M) $MACRO