U.S. Crude, Product Inventory Builds Set To Deliver Cheap Gas For Holidays

Crude oil inventories in the United States rose this week by 939,000 barrels for the week ending December 15, according to The American Petroleum Institute (API), after a 2.349-million-barrel draw in crude inventories in the week prior. Analysts had expected inventories to fall by 2.233 million barrels.

 API data shows a net build in crude oil inventories in the United States of just over 18 million barrels so far this year. On Monday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR)…