U.S. Crude Oil Stocks Climb While Cushing Levels Sink Deeper

U.S. Crude Oil Stocks Climb While Cushing Levels Sink Deeper

The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by 2.780 million barrels in the week ending October 3. Analysts had forecast a 2.25 million build for the week. Today’s figures come after three consecutive weeks of draws, including a 3.674 million barrel draw in the week ending September 26. So far this year, net crude oil inventories have rose by just 557,000 barrels, according to Oilpri…