API Reports Increase In Crude Inventories

November 27, 2018


The American Petroleum Institute said Tuesday that U.S. crude supplies were up by almost 3.5 million barrels for the week ended Nov. 23.

But the report also showed gasoline supplies down by 2.6 million barrels, while distillate inventories rose by 1.2 million barrels.

Some analysts, such as several asked by S&P Global Platts, are expecting a decline of nearly half a million barrels in tomorrow’s weekly Energy Information Administration report.