Oil traders - heads up for API inventory data due at the bottom of the hour

The American Petroleum Institute (API) crude oil inventories ( for the week to August 21) is released privately at 4.30pm ET (2030GMT).

The data is released publicly 5 minutes later, at 4.35pm ET.

The API data is closely watched as a guide to the EIA data due tomorrow morning (US time).

The 'expected' for the data from EIA tomorrow is for a build in inventory of 944K bbls for US Crude Oil.