API forecasts jump in US crude stocks – Trading Economics

US commercial crude stocks have seen a build of 4.9 million bbls in the week ended 26 April, according to the American Petroleum Institute (API) estimates cited by Trading Economics.

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US crude oil inventories dropped by 6.37 million bbls to 453.63 million bbls in the week ended 19 April. The decline exceeded the API’s estimate of a 3.23-million-bbl draw in the same week.

The estimated rise in US crude stocks "marked the biggest weekly gain" since the week ended 22 March, Trading Economics reported, attributing API.

By Konica Bhatt

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