New data API Crude Oil Stock Change (Sep/13)

9/17/2024

actual 1.96, previous -2.79

The API Crude Oil Stock Change is a report that provides data on the change in the amount of crude oil held in inventory by US companies, as reported by the American Petroleum Institute (API).

In this specific event on September 17, 2024, the actual change in crude oil stock was 1.96 million barrels, which was higher than the previous value of -2.79 million barrels. This indicates an increase in the amount of crude oil held in inventory compared to the previous period.

The impact of this event is considered medium, meaning it could potentially influence market sentiment and trading in the oil market. The currency involved is the US Dollar (USD).

Overall, a positive change in crude oil stock could indicate higher supply levels, which may put downward pressure on oil prices, while a negative change could suggest lower supply levels, potentially leading to higher oil prices.

This is not investment advice. Remember to verify the information provided here.