Although the API reports crude oil inventories, changes in oil futures have not changed

0 1 1 minute read

Investing.com-While the U.S. Petroleum Institute reports that weekly domestic crude oil inventories have increased significantly, U.S. crude oil futures remained roughly unchanged on Tuesday from the level after settlement.

U.S. benchmark crude oil WTI futures were recently traded at $71.18 a barrel after reporting a 0.4% decline to $71.20 a barrel.

U.S. crude oil inventories rose by 6 million barrels in the week ended March 28, compared with the 4.6 million barrels reported by the API last week. Economists are expected to build only 1.2 million barrels.

Gasoline reserves fell by about 1.6 million barrels, while the fuel category in the distillation stocks, including diesel and heating oil, fell by 11,000 barrels.

Official government inventory reports will be reported Wednesday at 10:30 a.m. ET (1530 GMT).

HSBC keeps Mediobanca in “hold” with a target price of €11.60

Zeroppo announces $3.75 million IPO $4-$5/sh

Digital World Gets Company Receives Expected Nasdaq Notice on Delayed Quarterly Report