05 Dec, 23

U.S. Crude and Products Builds Send Oil Prices Lower

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Crude oil inventories in the United States rose this week by 594,000 barrels for week ending December 1, according to The American Petroleum Institute (API), after a 817,000-barrel draw in crude inventories in the week prior. Analysts had expected inventories to go in a different direction, anticipating a 2.267 million barrel draw. API data shows a net build in crude oil inventories in the United States of nearly 21 million barrels so far this year. On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum…

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