Crude Oil, Product Inventory Builds Pressure Prices ...Middle East

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Crude Oil, Product Inventory Builds Pressure Prices
source : OILPRICE ( Middle East ) () 18
Crude oil inventories rose by 7.615 million barrels, American Petroleum Institute (API) data showed on Wednesday. U.S. crude inventories increased 13 million barrels last year, according to API data, while crude stored in the nation’s Strategic Petroleum Reserves sunk by 221 million barrels. This week, SPR inventory held steady at 371.6 million barrels as the emergency releases that the Biden Administration announced last spring are now complete. The SPR now contains the least amount of crude oil since early December 1983. Oil prices were…

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