Key facts
- U.S. crude oil inventories decreased by 328,000 barrels in the week ending August 14.
- Distillate inventories fell by 2.797 million barrels in the same week.
- The data was reported by the American Petroleum Institute (API).
- The drop in distillate stocks exacerbates existing shortages.
- Distillates include heating oil and diesel fuel.
In the week concluding August 14, U.S. crude oil inventories registered a decrease of approximately 328,000 barrels. This data comes from the American Petroleum Institute (API). Concurrently, inventories of distillates, a category encompassing products like heating oil and diesel fuel, saw a significant reduction. The API reported a drop of 2.797 million barrels in distillate stocks. This sharp decline in distillates is occurring amidst existing shortages, intensifying concerns about the availability of these crucial fuels.