Surprise Crude Inventory Spike Slams Oil Prices

By Julianne Geiger
click here to read this article at Oilprice.com
*this article was not written by Roseland Oil & Gas

Crude oil inventories in the United States rose by a shocking 10.9 million barrels for the week ending October 4, according to The American Petroleum Institute (API). Analysts had expected a build of 1.95 million barrels.

For the week prior, the API reported a 1.5-million-barrel decrease in crude inventories.

So far this year, crude oil inventories have slumped by just 5 million barrels since the beginning of the year, according to API data.

Crude oil inventories in the United States rose by a shocking 10.9 million barrels for the week ending October 4, according to The American Petroleum Institute (API). Analysts had expected a build of 1.95 million barrels.

For the week prior, the API reported a 1.5-million-barrel decrease in crude inventories.

So far this year, crude oil inventories have slumped by just 5 million barrels since the beginning of the year, according to API data.

By Julianne Geiger
click here to read this article at Oilprice.com
*this article was not written by Roseland Oil & Gas