API posts a modest rise in US crude stocks – Trading Economics

The US commercial crude inventories gained a modest 674,000 bbls in the week ended 2 February, according to the American Petroleum Institute (API) data cited by Trading Economics.

PHOTO: An oil pumpjack with the US flag in the background. Getty Images

Meanwhile, oil market analysts have projected a larger crude stock rise of 2.13 million bbls.

The expected rise follows a 1.23 million bbls rise in US crude inventories in the week ending 26 January, according to the EIA.

The broadly followed US official government data on crude oil stockpiles from the EIA is due later today.

By Aparupa Mazumder 

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