American Petroleum Institute (API) crude oil inventory data result
- Crude inventories rose by 2.9 million barrels in the week
- Crude stocks at Cushing, Oklahoma rose by 923,000 barrels
The report shows refineries boosted output
- gasoline & distillate inventories increased
Oil is a few cents lower after the data (under $37.50 for WTI). The inventory build is a surprise, expectations for tomorrow's DoE report were for an inventory fall of 1.766mln barrels
