U.S. crude stocks up 1.155M barrels last week, fuel balances drop big – API
Investing.com — U.S. crude stockpiles resumed their climb last week after a one-week decline, while inventories of fuel products extended declines sharply, petroleum industry group API said in a report Tuesday that is likely to be matched to some extent by forthcoming government data.
U.S. crude inventories rose by 1.155 million barrels during the week ended March 10, the API, which stands for the American Petroleum Institute, said. U.S. crude stockpiles had risen 10 weeks in a row, before a 3.835M barrel decline reported last week by the API.
The API numbers serve as a precursor to official inventory data on the same due from the U.S. Energy Information Administration, or EIA, on Wednesday.