"U.S. Crude Stocks Rise, Oil Prices Dip"
TL;DR Summary
The U.S. Energy Information Administration reported a 4.2 million barrel increase in crude oil inventories, while gasoline and middle distillates saw draws. This news caused oil prices to drop, despite earlier reports of OPEC+ extending production cuts. The American Petroleum Institute also reported an unexpected 8.43 million barrel build in oil inventories, further impacting prices. Brent crude was trading at $84.15 per barrel, and West Texas Intermediate at $79.31 per barrel.
- EIA Confirms Moderate Crude Build, Products Draw OilPrice.com
- U.S. Crude Oil Stocks Rose by 4.2 Million Barrels Last Week The Wall Street Journal
- Oil prices dip after build in US inventories, fall in US GDP growth By Investing.com Investing.com
- Oil Rises Ahead of Weekly Inventory Data OilPrice.com
- Latest Oil Prices, Market News and Analysis for Feb. 22 Bloomberg
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