Posted 10/11/2023, 8:48:00 PM
Oil Inventories See Large Unexpected Build But Remain Low Overall
- Huge build of 12.94 million barrels in U.S. crude inventories reported by API, compared to expected 1.3 million barrel build
- Total crude oil inventory moves so far this year just 4.4 million barrels
- SPR inventory remains near 40-year low of 351.3 million barrels
- Gasoline inventories rose 3.65 million barrels, now 1% above 5-year average
- Distillate inventories fell 3.54 million barrels, now 13% below 5-year average
