U.S. crude oil inventories up as oil prices surge again

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U.S. crude oil inventories up as oil prices surge again

STORY: U.S. crude oil inventories up as oil prices surge again DATELINE: March 9, 2022 LENGTH: 00:03:16 LOCATION: NEW YORK, the U.S. CATEGORY: ECONOMY SHOTLIST: 1. various of petrol stations in U.S. STORYLINE: The American Petroleum Institute on Tuesday reported an increase of 2.8 million barrels of crude oil in U.S. inventories for the week ending March 4. Analysts had expected a decrease of about 0.833 million barrels for the week. The institute reported a drop of 6.1 million barrels in the previous week. Oil prices surged again on Tuesday as the United States announced a ban on energy imports from Russia. The West Texas Intermediate for April delivery added 4.30 U.S. dollars, or 3.6 percent, to settle at 123.70 dollars a barrel on the New York Mercantile Exchange, its highest finish since August 2008, according to Dow Jones Market Data. Brent crude for May delivery increased 4.77 dollars, or 3.9 percent, to close at 127.98 dollars a barrel on the London ICE Futures Exchange,

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