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Oil Inventories Rose by 3.9M Barrels Last Week: API

SP Futures according to Investing.com (June 17, 2020) - U.S. crude stockpiles rose last week, according to an estimate released Tuesday by the American Petroleum Institute.

The API said crude inventories increased by 3.9 million for the week ended June 12. 

Analysts expect that the Energy Information Administration will report a draw of 0.152 million barrels when it issues numbers tomorrow morning. The EIA numbers are due at 10:30 AM ET (14:30 GMT).

Inventories at the Cushing, Oklahoma, hub fell by 3.29 million barrels.

U.S. crude oil futures were up 2.02% following the release, after settling up 3.39% at $38.38 a barrel Tuesday in regular trading.