American Petroleum Institute (API) crude oil inventories data for the week to September 25
– Crude inventories build of by 4.6 mln barrels
– Inventory at Cushing fell 1.2 mln barrels
The oil price fell at 4.30pm (on the subscriber data release … see below) and is still barely above its low. The build was a surprise result, with expectations for the official EIA inventory data due tomorrow morning (US time) at -100bbls (i.e. a stock draw).