American Petroleum Institute (API) crude oil inventories +2.9 million bbls

American Petroleum Institute (API) crude oil inventory data result

• Crude inventories rose by 2.9 million barrels in the week
• Crude stocks at Cushing, Oklahoma rose by 923,000 barrels

The report shows refineries boosted output

• gasoline & distillate inventories increased

Oil is a few cents lower after the data (under $37.50 for WTI). The inventory build is a surprise, expectations for tomorrow's DoE report were for an inventory fall of 1.766mln barrels