Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

U.S. Crude Oil Supplies Dropped Last Week, API Report Shows

Crude oil inventories fell 7.34 million barrels last week to 349.3 million, the American Petroleum Institute said today.

Gasoline inventories gained 4.8 million barrels to 220 million, the report showed.

The Energy Department is scheduled to release its inventory report tomorrow at 10:30 a.m. in Washington.

Analysts expect the government report to show stockpiles of crude oil declined over the period. Supplies probably dropped 1.4 million barrels, according to the median of 16 responses in a Bloomberg News survey. Gasoline inventories slipped 300,000 barrels, the survey showed.

Oil-supply totals from the API and DOE have moved in the same direction 75 percent of the time over the past four years, according to data compiled by Bloomberg.

API collects stockpile information on a voluntary basis from operators of refineries, bulk terminals and pipelines. The government requires that reports be filed with the Energy Department for its weekly survey.

Oil for January delivery fell $1.04, or 1.2 percent, to $88.34 a barrel at 4:31 p.m. in electronic trading on the New York Mercantile Exchange. The contract traded at $88.19 before release of the report at 4:30 p.m.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.