article thumbnail

Crude Stockpiles Rise, But Gasoline and Distillates See Big Draws

OilPrice

Crude oil inventories in the United States saw an increase of 1.4 Crude oil prices were trading up prior to the crude data release by the U.S. crude oil inventories amid strong product draws. crude oil inventories amid strong product draws. The Brent benchmark was trading

article thumbnail

Draws in Fuel Stocks Counter Crude Inventory Build

OilPrice

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 4.247 million barrels for the week ending March 7. So far this year, crude oil inventories have climbed nearly 17 million barrels, according to Oilprice calculations of API data. Inventory

article thumbnail

Valor | Energy Connection – Jan. 20, 2025

Valor

Read more Republican states sue Biden over drilling limits Summary : Several Republican-led states, including Mississippi, Alaska, Louisiana, Alabama, and Georgia, along with the American Petroleum Institute, have filed a lawsuit against the Biden administration challenging its restrictions on offshore oil and gas drilling.