Crude Oil Inventories Rise, Defying Forecasts and Previous Data

The latest report from the American Petroleum Institute (API) revealed an unexpected increase in U.S. crude oil inventories, marking a significant deviation from market expectations. The API Weekly Crude Stock data indicated an actual increase of 1.019 million barrels. This figure contrasts sharply with the forecasted decrease of 1.900 million barrels, suggesting a weaker-than-anticipated demand .…