U.S. Petroleum Inventories Fall More Than Expected

Crude oil inventories in the United States fell by 4.339 million barrels for the week ending September 20, according to The American Petroleum Institute (API). Analysts had expected a drop, but a much smaller one at -1.1-million-barrels. For the week prior, the API reported a 1.96-million-barrel increase in crude inventories. So far this year, crude oil inventories are 15 million barrels under where they were at the start of the year, according to API data. On Tuesday, the Department of Energy (DoE) reported that crude oil inventories in the Strategic…