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U.S. crude stockpiles unexpectedly fell last week, the API reported Tuesday, adding to expectations that demand is on the rise ahead of the summer driving season.
U.S. crude inventories fell by about 3.2 million barrels for the week ended Apr. 19, compared with an increase of 4.09M barrels reported by the API for the previous week. Economists were expecting an increase of 1.8M barrels.
The API data also showed that gasoline stockpiles fell by 595,000 barrels, while distillate inventories rose by 724,000 barrels.
By World Oil | The Bureau of Safety and Environmental Enforcement (BSEE) has activated its...
U.S. energy firms have reduced the number of oil and natural gas rigs for...
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Chevron’s $53 billion acquisition of Hess Corporation has caught the attention of the Federal...
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