US Oil, Product Inventories See Builds Across the Board
Crude oil inventories in the United States saw an increase of 2.0 million barrels during the week ending July 17, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The increase brings commercial stockpiles to 411.7 million barrels, according to government data, which are now 6% below the five-year average for this time of year. The EIA’s data release follows API’s figures that were released a day earlier, which reported that crude oil inventories had risen by 2.603 million barrels in…