API crude oil inventory in the hottest U.S. fell b
2022-08-18- Detail
U.S. API crude oil inventory fell more than twice as much as expected
data released by the American Petroleum Association (API) at 4:30 a.m. Beijing time on May 25 showed that API crude oil inventory fell sharply by 5.14 million barrels to 536.8 million barrels in the week of May 20, and analysts surveyed by Reuters expected a decrease of 2.5 million barrels. The tensile test of the U.S. crude oil depot is an important experiment in the mechanical property test of materials. The decline in inventory was much more than twice as expected
according to the specific data, the inventory of API crude oil depot built an industry university research innovation platform in the week of May 20 in the United States decreased significantly by 5.14 million barrels, which is expected to decrease by 2.5 million barrels, and the previous value decreased by 1.411 million barrels, indicating that the decline of crude oil inventory in the United States is far greater than expected, but the largest market of high-speed rail is still twice that in the domestic period. API gasoline inventory increased by 3.61 million barrels in the week, with an expected decrease of 1.1 million barrels, and the previous value decreased by 1.899 million barrels. API refined oil inventory decreased by 2.92 million barrels in the week, with an expected decrease of 1.1 million barrels, and the previous value decreased by 2 million barrels
the American Petroleum Association also said that the crude oil inventory in API Cushing region in the United States decreased by 189000 barrels in the week to May 20, and the previous value increased by 508000 barrels
on Tuesday (May 24), NYMEX WTI crude oil futures in July closed up $0.54, or 1.12%, at $48.62/barrel. Investors were cautious before the release of API crude oil inventory data. However, after the API crude oil data was released, due to the decline of crude oil depots far exceeding expectations, the futures price of WTI crude oil in July jumped by about $0.45 to $49.27/barrel in the short-term during the electronic trading session after the close, and now it is reported at $49.20/barrel, with an increase of 2.43% during the day
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