Large Crude, Gasoline Draws Send Oil Prices Up ...Middle East

OILPRICE - Economy
Large Crude, Gasoline Draws Send Oil Prices Up
source : OILPRICE ( Middle East ) () 59
The American Petroleum Institute (API) reported a huge draw this week for crude oil of 6.53 million barrels. U.S. crude inventories have grown by roughly 25 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by more than seven times that figure, at 194 million barrels. The draw in crude oil inventories was despite the Department of Energy’s release of 1.9 million barrels from the Strategic Petroleum Reserves in the week ending October 28, leaving the SPR with…

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