API data shows rise in US crude stocks - Trading Economics

The American Petroleum Institute (API) data cited by Trading Economics showed an unexpected build of 4.07 million bbls in US crude oil stocks in the week that ended 4 August.

PHOTO: A silhouette of an oil drilling pump on the background of the US flag. Getty Images

Last week, the US-headquartered industry body reported a decline of 15.4 million bbls in US crude oil inventories in its Weekly Statistical Bulletin that tracks crude stock builds in the US.

The oil market expected a drop of 0.23 million bbls in US crude stocks last week, Trading Economics reported.

The broadly followed US government data on crude oil stockpiles from the US Energy Information Administration (EIA) is due later today.

By Aparupa Mazumder 

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