U.S. Crude Inventories Grow But Gasoline, Distillates Fall

Crude oil inventories in the United States rose this week by 4.09 million barrels for the week ending April 12, according to The American Petroleum Institute (API). Crude productions, including gasoline and diesel, however, were draws. This comes after the API reported a 3.034 million barrel build in crude inventories in the week prior. On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) rose by another 0.7 million barrels as of April 12. Inventories are now at 364.9 million barrels—the…