The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 3.5 million barrels for the week ended Aug. 16, according to sources. The API also reportedly showed a stockpile decline of 403,000 barrels in gasoline, while distillate supplies rose by 1.8 million barrels.
Inventory data from the Energy Information Administration will be released August 21 at 10:30AM ET.
The EIA data are expected to show crude inventories down by 3.1 million barrels last week, following two consecutive weekly increases, according to a survey of analysts conducted by S&P Global Platts. The survey also forecast weekly supply declines of 1.6 million barrels for gasoline and 200,000 barrels for distillates.
API Weekly Oil Supply Data - August 20
API Weekly Oil Supply Data - August 20
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group