Large Build in Gasoline Stocks Overshadows Losses in Crude Inventories ...Middle East

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell again this week, this time by 3.3 million barrels in the week ending May 30 after analysts had estimated a 900,000-barrel draw. The API reported a 4.236 million barrel inventory decrease in the prior week. So far this year, crude oil inventories are up more than 18 million barrels, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve…

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