American Petroleum Institute (API) crude oil inventories up 1.6mln bbls

American Petroleum Institute (API) crude oil inventory data for the week ended November 27

• A stock build, while expectations were for a drawdown
• US crude stock rise of 1.6 mln bbls
• Stocks of crude at Cushing up 453K bbls

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Note - The American Petroleum Institute data is out earlier to their subscribers (at 4.30pm ET) and released publicly at 4.35pm ET

• The API data is closely watched as a guide to the EIA data due Wednesday morning (US time).
• The consensus estimate for the EIA report is currently for a stock draw of 668.18K barrels