API reports another rise in US crude inventories – Trading Economics

US crude oil inventories gained by 1.25 million bbls in the week ending 5 September, according to estimates from the American Petroleum Institute (API) cited by Trading Economics.

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A rise in US crude stocks can indicate lower demand for oil and put some downward pressure on Brent's price.

Last week, the API reported a 620,000-bbl rise in US crude inventories in its Weekly Statistical Bulletin, which monitors changes in domestic crude stocks.

The widely watched official data from the US Energy Information Administration (EIA) is scheduled for release later today.

By Aparupa Mazumder

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