General News
API reports a drop in US crude inventories – Trading Economics
July 23, 2025
US crude oil inventories fell by 577,000 bbls in the week ending 18 July, according to estimates from the American Petroleum Institute (API) cited by Trading Economics.
IMAGE: An oil pump jack with the US flag in the background. Getty Images
This week’s drawdown “ended a three-week streak of rising stockpiles, signaling a potential shift in supply dynamics,” Trading Economics noted.
A drop in US crude stocks typically indicates higher demand and can lend some support to Brent's price.
The widely watched official data from the US Energy Information Administration (EIA) is scheduled for release later today.
By Aparupa Mazumder
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