API: Crude And Gasoline Stocks Rose Last Week

Data from the American Petroleum Institute (API) on Tuesday showed that US inventories of crude oil and gasoline increased last week.

Crude inventories rose by 4.6 million barrels over the week ending October 23 to about 495.2 million barrels, while analysts’ expectations were for a decline of 1.2 million barrels.

Crude stocks rose at the delivery point in Cushing, Oklahoma, by 136 thousand million barrels.

According to figures from the Petroleum Institute, the consumption of crude refineries grew by 176,000 barrels per day.

Gasoline stocks increased by 2.6 million barrels, while analysts in a Reuters poll expected a decline of 961,000 barrels.

According to the data, US imports of crude oil rose by 436 thousand barrels per day last week.