According to foreign sources on January 17th, the American Petroleum Institute (API) released data on Wednesday showing that US crude oil inventories increased last week.

Market insiders cited an API report stating that as of the week ending January 12th, US crude oil inventories increased by 483,000 barrels, with an estimated market decline of 2.4 million barrels.

That week, US gasoline inventories increased by 4.866 million barrels, with an expected increase of 2 million barrels.

During the week, distillate oil inventories, including diesel and heating oil, increased by 5.21 million barrels, with an expected increase of 1.2 million barrels.

Due to the Martin Luther King Jr. Memorial Day holiday in the United States this Monday, the release of the API report has been delayed by one day.

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