Crude oil inventories ended the four-week streak of draws this week, increasing by 7.819 million barrels, American Petroleum Institute (API) data showed on Tuesday, after dropping 6.426 million barrels in the week prior. Analysts anticipated a 3.913 million barrel draw. U.S. crude inventories have grown by 14 million barrels so far this year, according to API data.
Meanwhile, crude stored in the nation’s Strategic Petroleum Reserves sunk by nearly 15 times that figure so far this year—by 211 million barrels. The SPR now contains…Crude Oil Sees Large Surprise Inventory Build
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