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API Estimates Show Surprise Draw In U.S. Crude Oil

Published 09/26/2017, 05:16 PM
© Reuters.  API estimates
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Investing.com - U.S. crude oil inventories fell by 761,000 barrels at the end of last week, the American Petroleum Institute (API) estimated Tuesday, compared with a 2.296 million barrels build expected.

Gasoline inventories however rose by 1.5 million barrels compared to a 962,000 barrels decline seen and distillates declined by 4.5 million barrels, compared with a 2.474 million barrels drop expected.

Oil supplies at the hub of Cushing, Oklahoma, rose by 1.1 million barrels.

Official data will be released on Wednesday from the U.S. energy Information Administration (EIA). The API and EIA figures often diverge.

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