RE: API report14 Aug 2019 00:53
No it was a build not a draw lol
The American Petroleum Institute (API) has estimated a surprise crude oil inventory build of 3.7 million barrels for the week ending Aug 8, compared to analyst expectations of a 2.761-million barrel draw.
The inventory build this week compares to last week’s draw of 3.4 million barrels, according to API data. A day later, the EIA contradicted the API report, estimating that there was an inventory build instead--of 2.4 million barrels.
After today’s inventory move, the net draw for the year is 4.53 million barrels for the 33-week reporting period so far, using API data