U.S. Crude Stocks Drop Sharply, But Massive Gasoline Build, API Says

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Includes: BNO, DBO, DNO, DTO, DWT, OIL, OILK, OILX, OLEM, OLO, SCO, SZO, UCO, USL, USO, USOI, UWT, WTID, WTIU
by: Investing.com

U.S. crude inventories fell 4.620 million barrels at the end of last week, the American Petroleum Institute (API) said on Tuesday, more than the 3.5 million barrels expected.

Gasoline supplies jumped 4.1 million barrels, compared with a build of 667,000 barrels seen, and distillates gained 1.8 million barrels, compared with a build of 271,000 barrels expected. The figures will be followed by official data from the Energy Information Administration (EIA) on Wednesday. The API and EIA figures often diverge.

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