Oil Inventories Fell 4.3M Last Week: API

Posted on the 28 January 2020 by Merks50

By Kim Khan - Stockpiles of U.S. crude fell sharply last week, industry group the American Petroleum Institute said Tuesday.

Oil inventories posted a drop of 4.3 million for the week ended Jan. 24, API said, compared with build of 1.6 million reported last week.

WTI futures rose 1.6% following in the report in post-settlement trading.

The Energy Information Administration reports the official government numbers at 10:30 AM ET Wednesday, with analysts looking for a build in crude stocks of 482,000.

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