Crude Oil, Distillates Inventories See Minor Build as Prices Sink
Market Intelligence Analysis
AI-PoweredUS crude oil inventories saw a minor build of 1.3 million barrels, contrary to analyst expectations of a 1.7 million barrel build, as prices continue to decline.
Market impact analysis based on neutral sentiment with 72% confidence.
Article Context
The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 1.3 million barrels in the week ending November 7, after analysts anticipated a 1.7 million barrel build. Crude oil inventories gained 6.5 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net gain of 4.9 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…
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