Oil Holds Firm On Small Crude Inventory Build

OilPrice.com | Sep 8, 2021 at 5:44 PM
  • The American Petroleum Institute (API) on Tuesday reported a draw in crude oil inventories of 2.882 million barrels for the week ending September 3, bringing the total 2021 crude draw so far to more than 65 million barrels, using API data.
  • In the previous week, the API reported a draw in oil inventories of 4.045 million barrels—a loss much larger than the 2.833 million barrel draw that analysts had predicted.
  • The API reported a large draw in gasoline inventories of 6.414 million barrels for the week ending September 3—compared to the previous week’s 2.711-barrel build.