U.S. Crude Oil Inventories Plunge Following Massive Build
Market Intelligence Analysis
AI-PoweredUS crude oil inventories have seen a significant drop of 609,000 barrels, following a massive build of 13.4 million barrels in the previous week, indicating a shift in market dynamics.
Market impact analysis based on bullish sentiment with 80% confidence.
Article Context
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 609,000 barrels in the week ending February 13, after increasing by 13.4 million barrels in the week prior. Inventories in the US Strategic Petroleum Reserve (SPR) keep climbing week after week. The Department of Energy (DoE) reported that crude oil inventories rose by 200,000 barrels to 415.4 million barrels in the week ending February 13. This is 310.1 million barrels shy of maximum capacity. US production stopped its fifth week in a row losing…
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