NewsBreak: Crude Stockpiles Rose by 4.5M Barrels Last Week, API Data Show

NewsBreak: Crude Stockpiles Rose by 4.5M Barrels Last Week, API Data Show

Oct 22, 2019

U.S. crude stockpiles rose 4.5 million last week, a third-straight weekly build, according to an estimate from the American Petroleum Institute released Tuesday.

  • The API said crude inventories rose by 4.5 million for the week ended Oct. 18.
  • WTI futures were up 1.3% at $54.20 following the release, after settling up 1.6% today in regular trading.
    • Analysts expect that the Energy Information Administration will report a build of 2.23 million barrels when it reports numbers tomorrow morning. The EIA petroelum data are due at 10:30 AM ET (14:30 GMT).

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