The American Petro l eum Institute (API) reported a surprising 4.2 million barrels of crude oil inventory for the week ending February 22, and came under the analysts' expectations that predicted that crude oil inventories would build with 2,842 million barrels.
Last week, API reported a crude oil building of 1.26 million barrels. One day later, EIA reported a larger 3.7 million barrels.
The oil price movements were pretty bland Tuesday before the data release, with the WTI benchmark trading essentially flat on the day at $ 55.48, while the Brent benchmark trading up $ 0.37 (+ 0.57%) at $ 65.28 pm. 14:25. Both benchmarks were trading down a few dollars a barrel week a week.
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API one this week reported a tie in gasoline for the weekend of February 22 in the amount of 3.8 million barrels. Analysts estimated a gasoline holding of 1,686 million barrels a week.
The US crude oil production, as estimated by the Energy Management Administration, showed that the production for the week ending February 15 – the latest available information – averaged 12 million barrels per day. Day – Another high for the United States, who breaks another psychological barrier.
Distillate inventories rose this week by 400,000 barrels compared to an expected draft of 1,951 million barrels.
Crude oil stocks at Cushing, Oklahoma facility increased by 2.0 million barrels a week.
US Energy Information Administration report on crude oil inventories to be published on Wednesday at. 10:30. EST.
At 16:39 EST, WTI traded at $ 55.63 and Brent traded at $ 65.49.
By Julianne Geiger for Oilprice.com
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