API announces unexpected surge in US crude stockpiles
Economies.com
2019-12-10 22:50PM UTC
The American Petroleum Institute (API) revealed today in preliminary data that the US crude inventories rose by about 1.4 million barrels during the last week, beating forecasts of a decline by 2.8 million barrels.
The gasoline inventories rose by 4.9 million barrels, and the distillate inventories rose by 3.2 million barrel during the same period.
The Energy Information Administration (EIA) will release the official data on Wednesday, which have a significant impact on oil prices movement.
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