API reports small US crude stock rise – Trading Economics

Commercial US crude inventories climbed by 939,000 bbls in the week ended 15 December, 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

Oil market analysts expected the US crude inventories to drop by 2.23 million bbls in the week.

Last week, the US-headquartered industry body reported a decline of 2.35 million 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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