American Petroleum Institute (API) crude oil inventories rise 2.6 million bbls
American Petroleum Institute (API) crude oil inventory data result, for the week ended November 20
- US crude stocks up 2.6 million barrels .... A larger than was expected build in oil stockpiles
- Stocks of crude at Cushing up 1.9 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).
- The consensus estimate for the EIA report is currently for a stock build of 1195K bbls