API reports a small rise in US crude stocks – Trading Economics

US commercial crude inventories increased by 594,000 bbls in the week ended 1 December, according to the American Petroleum Institute (API) data cited by Trading Economics.

PHOTO: An oil pump jack and barrels with the US flag. Getty Images

Oil market analysts expected US crude inventories to rise by 2.27 million bbls in the week.

Last week, the US-headquartered industry body reported a decline of 817,000 bbls in US crude oil inventories in 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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