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Breaking: Crude Inventories Rose by 4.2M Barrels - API

Published 02/04/2020, 04:36 PM
Updated 02/04/2020, 04:41 PM
© Reuters.
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By Yasin Ebrahim

Investing.com – U.S. oil inventories increased last week, according to the American Petroleum Institute’s estimate released late Tuesday.

  • Crude stockpiles rose by 4.2 million barrels for the week ended Jan. 31, the API reported, compared with a draw of about 4.3 million barrels reported for the week before.

  • The Energy Information Administration is expected to report a build of about 2.8 million barrels when it issues official numbers tomorrow, according to analysts’ forecasts compiled by Investing.com.

  • WTI futures were down about 0.94% after the API numbers came out.

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