What happened
US API crude oil inventories for the week ending September 18 came in at 1.786 million barrels, according to data reported by East Money Information, citing Daily Economic News.
The reading compared with an expected decline of 563,000 barrels and a prior-week figure of 7.144 million barrels.
Why it matters
The result diverges from expectations: instead of the anticipated drawdown, inventories increased, which points to a build in crude stocks for the period covered by the API survey.
The prior week's much larger build of 7.144 million barrels means the latest increase is smaller in scale, though it still runs counter to the forecast direction.
Key facts
US API crude oil inventories for the week ending September 18 were 1.786 million barrels.
The expected figure was -563,000 barrels.
The previous reading was 7.144 million barrels.
The source is Daily Economic News, published via East Money Information.
What to watch next
Whether the official inventory data due later confirm the build reported by the API, since the two releases can differ.
How the larger-than-expected increase, relative to forecasts, influences market sentiment around crude supply levels in the coming sessions.
