API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw

Adding another shock to the already volatile market in contradiction of analyst expectations, the American Petroleum Institute (API) is reporting a significant increase today in its weekly U.S. crude inventory report of 2.09 million barrels, following a volatile day of trading. Markets will also be responding to the API’s report of a 3.9-million-barrel drop in gasoline stockpiles and a 1.5-million-barrel draw for distillates. Analysts are expecting that the Energy Information Administration (EIA) will report a 1.0-million-barrel drop in U.S.…

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API Reports Biggest Crude Oil Build in 3 Months, Significant Gasoline Draw

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