home Oil Prices, Oil Stocks, Production US crude oil in storage had a huge spike last week

US crude oil in storage had a huge spike last week

US crude oil inventories surged last week by the biggest amount since last April.

Data from the Energy Information Administration showed that inventories jumped by 10.4 million barrels, much more than the forecast for 3.604 million according to Investing.com.

On Tuesday, the American Petroleum Institute’s data also showed a big build, by 9.9 million barrels, which was more than expected.

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