API reports a rise in US crude stocks – Trading Economics

US commercial crude inventories gained 1.35 million bbls in the week ended 27 October, according to the American Petroleum Institute (API) data cited by Trading Economics.

PHOTO: An oil refinery complex in Los Angeles, CA. Getty Images

Meanwhile, market analysts expected a rise of 1.60 million bbls.

Last week, the US-headquartered industry body reported a decline of 2.67 million bbls in US crude oil inventories on its Weekly Statistical Bulletin that tracks crude stock builds in the US.

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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