ReportedShipping, energy & marketsUnited States
API estimates U.S. crude inventories fell 5.267 million barrels
- Mountain Time
- Local time
- 10:00 PM UTC
- Where
- United States
The American Petroleum Institute estimated that U.S. crude inventories fell by 5.267 million barrels in the week ending October 30. OilPrice.com reported that 400,000 barrels were also drawn from the Strategic Petroleum Reserve during the week.
Why it matters
A larger-than-expected U.S. inventory draw can tighten the immediate crude balance while Middle East supply and shipping disruptions continue to affect available barrels.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels