Weekly Inventory Report Reveals Mixed Trends

According to private data from the American Petroleum Institute (API), crude oil inventories in the United States increased by 622,000 barrels during the week ending August 29. This unexpected rise comes amid fluctuating energy markets and shifting demand patterns.

Significant Drops in Refined Products

Distillate inventories experienced a notable decrease, falling by 3.687 million barrels, while gasoline stockpiles saw an even steeper decline of 4.577 million barrels. These reductions suggest heightened consumption or production adjustments in the refining sector.

Cushing Reserves Spike

In a contrasting development, reserves at the key storage hub in Cushing reportedly jumped by 2.063 million barrels, highlighting regional inventory disparities and potential logistical challenges.