U.S. Oil Inventories Rise Beyond Expectations ...Middle East

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U.S. Oil Inventories Rise Beyond Expectations
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The American Petroleum Institute (API) on Tuesday reported an extensive build in crude oil inventories of 4.319 million barrels for the week ending April 23. Analysts had predicted a much smaller build of 659,000 barrels for the week. In the previous week, the API reported a build in oil inventories of 436,000 barrels after analysts had predicted a draw of 2.860-million barrels. Enbridge tanks at main Cushing area as of April 16. Oil prices were trading up on the day prior to the data release despite the coronavirus surge in the world’s third-largest…

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