Mumbai, March 12 -- The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 4.247 million barrels for the week ending March 7, reversing two weeks of declines. This increase followed a 1.455 million-barrel draw the previous week, surpassing market expectations of a smaller build of 2.1 million barrels. So far this year, crude oil inventories have climbed nearly 17 million barrels. Gasoline inventories fell in the week ending March 7, by 4.560 million barrels, after falling by 1.249 million barrels in the week prior.
Published by HT Digital Content Services with permission from Capital Market....