API crude oil inventories: up 7.6 mln barrels

American Petroleum Institute (API) crude oil inventories for the week to August 28

• U.S. crude oil stocks rise 7.6 mln bbls ... Much, much higher than the 'expected' for the EIA data tomorrow (see that, below)
• Crude stocks at Cushing fell by 318K barrels

Oil price falling on the build in stockpiles

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Note - This data is out earlier to API subscribers (at 4.30pm ET) and released publicly at 4.35pm ET.

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

The consensus estimate for tomorrow's EIA report is currently for an inventory build of 444K barrels.