Ideas Markets Events Research
Close
search
Ideas
Markets
Events
Research
Nothing found
Select a section for which the search will be carried out
19 January 2023 | Other

API: US crude oil inventories rose by more than 7 million barrels over week

Brent
WTI Light Crude Oil

The market's expectations of a decline in crude stocks were refuted. On Wednesday, trade group API reported last week's increase in U.S. crude inventories. The gain amounted to several million barrels. 

According to the American Petroleum Institute (API), oil reserves added 7.6 million barrels over the week. Earlier it was 14,865 million barrels.

The API posts approximate figures of the upcoming official data from the U.S. Energy Information Administration (EIA). The exact statistics are to be published this Thursday.

The EIA is expected to report a 593,000 barrel decline in fuel reserves compared to last week's 18.962 million barrel increase.

A reduction in black gold reserves usually leads to an increase in oil prices and vice versa.

Company MarketCheese

Recommended

United States. Cushing Crude Oil Inventories. The value of the indicator has decreased from -0.648M to -1.702M
Yesterday at 2:30 PM
United States. Crude Oil Inventories. The value of the indicator has decreased from -2.313M to -4.306M
Yesterday at 2:30 PM
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from -8.1M to -2.188M
12 May
United States. OPEC Crude oil Production Saudi Arabia (Barrel). The value of the indicator has decreased from 9.95M to 7.65M
11 May
United States. OPEC Crude oil Production UAE (Barrel). The value of the indicator has decreased from 2.1M to 2M
11 May
Top news
European Union. GDP (QoQ). The value of the indicator remained at the same level of 0.1%
Yesterday at 9:02 AM
United States. CPI (YoY). The value of the indicator has increased from 3.3% to 3.8%
12 May
United States. Nonfarm Payrolls. The value of the indicator has decreased from 185K to 115K
8 May
United States. Unemployment Rate. The value of the indicator remained at the same level of 4.3%
8 May
European Union. Retail Sales (MoM). The value of the indicator has increased from -0.3% to -0.1%
7 May
All news

Forecasts

S&P 500 sell
Period: 21.05.2026 Expectation: 1500 pips
Selling S&P 500 with 7,300 target amid inflation shock and overheated market conditions
Technical analysis Indicators and reports Indicators Hot news Fundamental analysis
Today at 08:03 AM 3
Emily_Foster
Gold sell
Period: 31.05.2026 Expectation: 600 pips
Gold sell-off targets $4,640
TA Other FA Other
Today at 04:15 AM 6
McCarthy_Raymond
AUDUSD buy
Period: 31.05.2026 Expectation: 400 pips
Buying AUDUSD up to 0.7280
TA Other FA Other
Today at 04:15 AM 8
Bruce_Powers
USDCAD buy
Period: 13.06.2026 Expectation: 1000 pips
Go long on USDCAD with 1.38800 target in play
FA Other Indicators and reports Hot news Chart analysis
Yesterday at 10:48 AM 47
Sinclair_John
Natural gas buy
Period: 20.05.2026 Expectation: 100 pips
Natural gas prices are correcting within upward channel ahead of another rally
FA Other Technical analysis Indicators Chart analysis Fundamental analysis
Yesterday at 09:39 AM 25
Lyra_Moonwell1
NVIDIA Corporation buy
Period: 20.05.2026 Expectation: 1000 pips
Investing in NVIDIA stock with $230 in sight
FA Other Indicators and reports Hot news Chart analysis
Yesterday at 09:06 AM 16
Reed_Marcus
Go to forecasts