Large Crude Build Weighs On Oil Prices ...Middle East

The American Petroleum Institute (API) reported a large build this week for crude oil of 5.618 million barrels. U.S. crude inventories have grown by roughly 31 million barrels so far this year, according to API data, while the U.S. Strategic Petroleum Reserves fell by more than six times that figure, at 197 million barrels. The build in crude oil inventories was partially due to the Department of Energy’s release of 3.6 million barrels from the Strategic Petroleum Reserves in the week ending November 4, leaving the…

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