08 Nov, 23

Oil Prices Fall Further As U.S. Crude Oil Inventories See Major Build

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Crude oil inventories in the United States rose by a staggering 11.9 million barrels for week ending November 3, according to The American Petroleum Institute (API), after a 1.347-million-barrel rise in crude inventories in the week prior, API data showed. API data now shows a net build in crude oil inventories in the United States of 10.568 million barrels so far this year. On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed the same for the fifth week in a row, with…

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