US crude inventories jump nearly 12 million barrels
Economies.com
2020-04-07 23:37PM UTC
The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories rose by 11.9 million barrels during the past week, beating forecasts of a rise by 8.4 million barrels.
The gasoline inventories rose by 9.5 million barrels, while the distillate inventories fell by 177 thousand barrels during the same period.
While the Energy Information Administration (EIA) will release the official data on Thursday, one day after its usual date due to the Presidents’ Day holiday on Monday.
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