American Petroleum Institute (API) crude oil inventory data result

For the week ended November 6

  • US crude stock inventory rise 6.3 million bbls ... much larger than expected
  • Stocks at Cushing up 2.5 million barrels

Higher imports of oil offsetting increased refinery runs

  • Refinery crude runs rose by 193,000 barrels/day
  • Imports rose by 198,000 bpd

More:

  • Gasoline stocks down 3.2 million barrels

-

Note - The American Petroleum Institute data is out earlier to their subscribers (at 4.30pm ET) and released publicly at 4.35pm ET

  • The API data is closely watched as a guide to the EIA data due Wednesday morning (US time), but Thursday morning this week due to the Veterans Day holiday
  • The consensus estimate for the EIA report is currently for a stock build of 790.91K bbls