Open Demo Account
Home / Market Update / Commodities / API: US Oil Inventories Down 4.5 M Barrels

API: US Oil Inventories Down 4.5 M Barrels

M. Ali 26 August, 2020 1:33 am Commodities, Market Update

Estimates by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States decreased by 4.5 million barrels last week.

This would be the fifth consecutive weekly decline in US crude oil stockpiles, amid output disruptions in the Gulf of Mexico due to Hurricane Laura.

Tags

Check Also

What Can Markets Expect from December’s US Employment Data?

US employment data significantly influences market price movements. By examining preliminary employment indicators, we can …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends