US Oil Inventories See Significant Rise

In a recent development that has caught the attention of market analysts, crude oil inventories in the United States experienced a notable increase. According to private data from the American Petroleum Institute (API), there was a rise of 3.76 million barrels in the week ending April 25.

Detailed Breakdown of Inventory Changes

The same report highlighted contrasting trends in other fuel categories. Distillate inventories saw a decrease of 2.52 million barrels, while gasoline stockpiles dropped by 3.14 million barrels. On the other hand, reserves in Cushing, Oklahoma, reportedly expanded by 674,000 barrels during this period.