Weekly Crude Oil Inventory Report

In a surprising turn of events, the United States has reported a 1 million barrel decrease in crude oil inventories for the week ending April 8, as per the American Petroleum Institute's (API) latest data.

Changes in Key Oil Reserves

Interestingly, while national inventories saw a decline, reserves in Cushing, Oklahoma, experienced a growth of 636,000 barrels. This juxtaposition highlights the dynamic nature of oil storage and distribution across the country.

Gasoline and Distillate Stocks Fluctuate

The report also sheds light on other energy commodities, with gasoline stockpiles increasing by 207,000 barrels, whereas distillate inventories faced a significant drop of 1.8 million barrels. These fluctuations are crucial for understanding the current energy market trends.