Author: Julianne Geiger

  • API Reports Yet Another Crude Inventory Draw

    The American Petroleum Institute (API) reported a draw of 1.562 million barrels in United States crude oil inventories, against an S&P Platts’ survey of analysts that expected inventories would draw down by 2.7 million barrels for the week ending November 3—continuing the drawdown that the market has seen in recent weeks. Gasoline inventories, according to the API, saw a small build of 520,000 barrels for the week ending November 3, against an expectation of a draw of 2.25 million barrels.   Both WTI and Brent benchmarks were…