US crude stocks down 4.4M barrels, adjusting to previous huge build- API

Investing.com - US crude stockpiles possibly fell as much as 4.4 million barrels last week, suggesting exports had picked up again after a slack in the previous week that led to a huge build, petroleum trade group API reported Tuesday.

Typically at this time of year, demand for fuels is softer in the United States as fewer families do trip roads with their children back in school or college. But with the refinery industry on seasonal maintenance, larger-than-usual declines in fuel stocks are also common with limited replenishments coming in.fell by 4.383M barrels during the week ended Oct. 13, according to the API. That contrasted with a 12.94M jump in the prior week to Oct. 6 led largely by a sharp decline in exports.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Crude Oil Futures: Extra pullbacks not favouredOpen interest in crude oil futures markets dropped for the third consecutive session on Monday, now by around 9.2K contracts according to preliminary
Source: FXStreetNews - 🏆 14. / 72 Read more »

Crude Oil Futures: Corrective move in the offing?CME Group’s flash data for crude oil futures markets noted traders scaled back their open interest positions for the second session in a row on Monday
Source: FXStreetNews - 🏆 14. / 72 Read more »