Oil Prices Slide After API Reports Large Crude Build

By Julianne Geiger The American Petroleum Institute (API) reported a build of 11.6 million barrels in United States crude inventories against expert predictions that domestic supplies would see a much kinder 1.4-million-to 1.66-million-barrel build. The build in crude oil inventories was almost 10 times what analysts had predicted and marks yet another new high in U.S. inventories. The chart below displays a 10-week cumulative build of 35 million barrels, per API data, since the beginning of the year Cumulative changes in crude oil stocks since Jan 4, 2017 (Click…

Read Full Article Here

For more great articles: OilPrice.com Daily News Update

(Visited 22 times, 1 visits today)

Comments

comments


Tagged:


© 2014 RenewaNews