Mumbai, June 10 -- 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. In the week prior, US crude oil inventories fell by 6.75 million barrels. Despite inventories dropping by 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. Gasoline inventories also fell by 1.191 million barrels in the week ending June 5. In the week prior, gasoline inventories increased by 3.45 million barrels.
Published by HT Digital Content Services with permission from Capital Market....