U.S. Crude Stocks Post Surprise Build as Gasoline and Distillates Rise
Market Intelligence Analysis
AI-PoweredU.S. crude oil inventories unexpectedly increased by 2.4 million barrels, reversing the previous week's decline, as gasoline and distillates rose, potentially impacting oil prices and market sentiment.
Market impact analysis based on bearish sentiment with 76% confidence.
Article Context
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 2.4 million barrels in the week ending December 19. Crude oil inventories shrank by 9.3 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 6.7 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 800,000 barrels…
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