API: U.S. Crude Stocks Build 1.3M Bbl on Week

DAVENPORT, FL (DTN) – U.S. crude oil inventories rose last week, while gasoline stocks fell and distillate fuel supplies posted a build, the American Petroleum Institute reported on Wednesday (11/12).

U.S. commercial crude oil supply increased by 1.3 million bbl during the week ended November 7, following the 6.5 million bbl build the prior week.

At Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, inventories eased by 43,000 bbl, after declining 270,000 bbl the previous week.

Gasoline inventories fell by 1.4 million bbl, extending the 0.7 million bbl draw reported the prior week.

Distillate fuel stocks rose by 944,000 bbl, following a 4.53 million bbl decrease the previous week.