API crude oil stocks in the week to October 16
- US crude stock inventory build of 7.1 million barrels, we above expectations around 3.9mln barrels
- Stocks at Cushing up by 22K bbls
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A big build in inventory, like last week
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Note - This data is out earlier to API 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 tomorrow morning (US time).
- The consensus estimate for tomorrow's EIA report is currently for a stock build of 3660.0K bbls
