Oil - American Petroleum Institute (API) data - Inventory build of 2.6mln barrels

Author: Eamonn Sheridan | Category: News

American Petroleum Institute (API) crude oil inventory data

  • Oil inventory build of 2.6 mln barrels
  • Cushing draw of 319K barrels
  • Gasoline -1.94 mln bbls
  • Distillate -95K bbls
The survey expectations for the headline number was a build of 3.2mln barrels, so the 2.6mln (2.642mln to be more precise) bbls result is below expectations

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 U.S. Energy Information
    Administration (EIA) data due tomorrow morning (US time)
  • The consensus estimate for tomorrow's EIA report is currently for a stock build of 2822.22K barrels (i.e. an adding to inventory) 
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