Weekly Crude Oil Inventory Report

In a recent update from the American Petroleum Institute (API), the United States has seen a significant increase in crude oil inventories, with a rise of 2.4 million barrels for the week ending April 11. This development marks a pivotal moment in the energy sector, reflecting potential shifts in supply and demand dynamics.

Regional Inventory Changes

While the national inventory levels climbed, Cushing, Oklahoma, experienced a contrasting trend with a decrease of 349,000 barrels in reserves. Additionally, the API data highlighted notable declines in gasoline and distillate stockpiles, dropping by 3 million and 3.2 million barrels respectively, suggesting a tightening in these key energy markets.