Oil traders - heads up for API inventory data due at the bottom of the hour

American Petroleum Institute (API) crude oil inventories in the week to August 14 is released privately at 4.30pm ET (2030GMT).

The data is released publicly 5 minutes later, at 4.35pm ET.

The API data is closely watched as a guide to the EIA data due tomorrow morning (US time).

The 'expected' for the data from EIA tomorrow is -354K bbls for US Crude Oil Inventories