On Monday, July 14th, data released by the American Petroleum Institute (API) showed that US crude oil, distillate oil, and gasoline inventories all increased last week.

As of the week ending July 11th, crude oil inventories increased by 839,000 barrels. Gasoline inventory increased by 1.93 million barrels, and distillate inventory increased by 828,000 barrels.

The survey predicts that US crude oil inventories decreased by about 600,000 barrels last week, distillate oil inventories increased by about 200,000 barrels, and gasoline inventories decreased by 1 million barrels.

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