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API: U.S. crude oil and fuel stocks fell across the board last week

April 18, 2018 05:38
Author: Jun coast
source: FX168 Financial Network
edit:Oriental Wealth Network

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The American Petroleum Institute (API) released a report on Tuesday (April 17) that last week, US crude oil, gasoline, and refined oil stocks all recorded declines.

API announced that, as of the week of April 13, US crude oil inventories fell by 1.47 million barrels to 428 million barrels.AnalystExpected to reduce 1.9 million barrels. Cushing crude oil stocks fell by 1.015 million barrels.

In addition, gasoline inventories fell by 2.473 million barrels last week, and analysts expect to reduce 1 million barrels.

At the same time, refined oil stocks fell by 854,000 barrels last week, and analysts forecast a reduction of 530,000 barrels.

More data shows that last week US crude oil imports decreased by 644,000 barrels per day to 7.9 million barrels per day.

After the release of API data, the two oils in the United States and the United States advanced slightly after the close of trading.

Commenting on the well-known financial blogger website Zerohyedege, although the geopolitical risks seem to be dissipating, WTI crude and RBOB gasoline futures are supported by the Organization of Petroleum Exporting Countries (OPEC) to extend their production cuts and rebound after the release of API data. According to API data, crude oil, gasoline, refined oil, and Cushing oil all fell in the US during the week. In addition, Bloomberg noted that Alberta, Canada, plans to reduce the transportation of crude oil and fuel in British Columbia, which may affect the entire west coast of North America.Oil priceSoaring and changing the flow of international crude oil.

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                (Editor: DF380)

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