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Energy Preview: API data shows oil inventories surge by 4.29 million barrels
14-May-2025 08:32

WTI crude oil futures dipped lower from a two-week high after weekly oil inventories data indicated an unexpected rise in crude oil stocks. The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 4.287 million barrels in the week ending May 9. The API reported a 4.49 million barrel inventory decrease in the prior week. Gasoline inventories fell in the week ending May 9, by 1.374 million barrels, after falling by 1.97 million barrels in the week prior. Distillate inventories were also down this week, by 3.675 million barrels. In the week prior, distillate inventories had risen by 2.24 million barrels.

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