Crude Oil Inventories in US See Surprise Drop ...Middle East

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 640,000 barrels for the week ending February 21. Analysts had expected a 2.3-million-barrel build. This offsets just a small part of the 18 million barrels of builds in U.S. crude oil inventories during the last four weeks, including a 3.3 million barrel build in the week prior. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) stayed at 395.3 million barrels in the…

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