👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

API says crude stocks jumped 11.6 million barrels last week

Published 03/07/2017, 04:47 PM
Updated 03/07/2017, 04:48 PM
© Reuters.  API data

The American Petroleum Institute said Tuesday that crude inventories jumped 11.6 million barrels at the end of last week, far more than the expected 1.66 million barrels build seen, while gasoline stocks dropped 5.0 million barrels, compared to a dip of 1.28 million barrels forecast.

Distillate supplies eased 2.9 million barrels, compared to a 880,000 barrels draw seen, while stocks at the Cushing, Oklahoma, oil hub rose by 800,000 barrels.

The figures will be followed on Wednesday by more closely-watched official data from the U.S. Energy Information Administration.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.