API Reports Crude Inventories Fell 2.8 Mln Barrels Against Analyst Expected Trends
The American Petroleum Institute reported late Tuesday that crude oil inventories fell 2.8 million barrels for the week ended April 1st, according to a MarketWatch report.
This is contrary to the trend analysts polled by Platts were expecting which was an increase in crude inventories of 1.3 million barrels.
The agency also reported an increase of 568,000 barrels in gasoline stocks and a decline in distillates, which include heating oil and diesel, of 1 million barrels.
In contrast to actual trending directions, analysts had projected a 2.1 million barrel decrease in gasoline stocks and a 600,000 barrel increase of distillates
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