Crude oil inventories in the United States fell by 1.5 million barrels for the week ending September 27
, according to The American Petroleum Institute API . Analysts had expected a drop of 2.1 million barrels. For the week prior, the API reported a 4.339-million-barrel decrease in crude inventories. So far this year, crude oil inventories nearly 17 million barrels under where they were at the start of the year, according to API data. On Tuesday, the Department of Energy DoE reported that crude oil inventories in the Strategic Petroleum Reserve SPR rose by 0.7 million barrels as of Sept 27.
At one point, oil prices were trading up more than 5% on the day. At 317 pm ET, Brent crude was trading up $2.08 2.90% on the day at $73.78—but still down roughly $1.40 from this time last week. The U.S. benchmark WTI was also trading up on the day by $1.95 2.86% at $70.12—$1.50 per barrel under where they were this time last Tuesday. Gasoline inventories rose this week by 900,000 barrels, compared to last week’s 3.438-million-barrel decrease.
Oil Inventories Crude Gasoline Refining Distillates Downstream
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