According to the American Petroleum Institute (API), crude oil inventories saw a significant rise of 2.4 million barrels last week, highlighting a notable change in stock levels. This development was contrary to the gasoline inventories, which experienced a substantial decrease of 3 million barrels over the same period.
The data, shared ahead of the official release of API’s Weekly Statistical Bulletin, reflects ongoing fluctuations in the oil market. Such stock movements are crucial indicators for market participants and analysts assessing supply dynamics and price trends.
API’s detailed report, made available every Tuesday afternoon, serves as an important resource for tracking changes in crude and refined product inventories. The latest figures may influence perspectives on market supply and demand, potentially affecting trading strategies and energy pricing in the days to come.
