API Oil Inventories, Last Two Months
Crude oil jumped two million barrels during the period ended Jan. 12, the
American Petroleum Institute
(API) reported Wednesday. Analysts surveyed by
were looking for an increase of one million barrels. Crude oil supplies now stand at 290.43 million barrels, up 0.7% from last week. Supplies are now down 4.15 million barrels from a year ago.
For the period ended Jan. 12, API reported that distillate stocks were at 114.96 million barrels, down 3.2 million barrels from the week before. Analysts were looking for a drawdown of 1.5 million barrels. Supplies are now down 8 million barrels, or 6.5%, vs. the year-ago period.