US Crude Oil, Gasoline Inventories Keep Sinking, but Prices Don’t Care ...Middle East

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US Crude Oil, Gasoline Inventories Keep Sinking, but Prices Don’t Care
source : OILPRICE ( Middle East ) () 36
The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 9.119 million barrels in the week ending June 5. Analysts had expected a 3.4 million draw. In the week prior, US crude oil inventories fell by 6.75 million barrels. Despite inventories dropping by a hard-to-stomach 44 million barrels over the last 8 weeks according to API data, US crude inventories are still up almost 7 million barrels so far this year, according to API data. Inventories in the US Strategic Petroleum Reserve (SPR) are also falling…

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