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Publish date. 10-03-2010   Number of images. 1

Crude Oil Stockpiles Climb by 1.4 Million Barrels

ABC News | AP Crude inventories rose less than expected last week, while gasoline supplies dropped, the government said Wednesday. ...

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Oil inched lower today, pressured by yesterday’s bearish inventories data from API (American petroleum Institute) and a stronger US dollar.
API said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. Gasoline inventories and distillates, which include heating oil, declined by 3.2 million barrels and 2.8 million barrels respectively. More closely watched inventories data from EIA (Energy Information Administration) is set to be released tomorrow.
OPEC (Organization of Petroleum Exporting Countries) has upped its demand forecast for the current year, projecting the global consumption to grow by an additional 0.
Oil inched lower today, pressured by yesterday’s bearish inventories data from API (American petroleum Institute) and a stronger US dollar. API said crude stockpiles in the US added 6.5 million barrels, while a smaller increase was expected. The data also signalled a sixth straight week of expansion in oil inventories. Gasoline inventories and distillates, which include heating oil, declined by 3.2 million barrels and 2.8 million barrels respectively. More closely watched inventories data from EIA (Energy Information Administration) is set to be released tomorrow. OPEC (Organization of Petroleum Exporting Countries) has upped its demand forecast for the current year, projecting the global consumption to grow by an additional 0.... Open »
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