API Shows Sharp Build in US Crude Oil, Distillate Inventories

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 9.0 million barrels in the week ending November 6. In the week prior, US crude oil inventories fell by 5.267 million barrels. Commercial crude oil inventories excluding the SPR have lost more than 54 million barrels over the last 30 weeks, and 3 million over this year, according to API data, wh