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API reports US crude inventories rise 2.603m barrels, defying expectations for a 1.5m draw

by VT Markets
/
Jul 22, 2026

US crude oil inventories rose by 2.603m barrels in the week to 17 July, according to the American Petroleum Institute. The build contrasted with market expectations for a 1.5m-barrel draw, reversing the anticipated direction of stock movement.

Surprise Inventory Build

The data point implies a 4.103m-barrel gap versus the forecast.

Market Implications

API’s weekly estimate is often used as an early indicator ahead of official government figures, and it can influence near-term pricing and positioning in the oil market.

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