Crude Oil, Product Inventories Climb, Pressuring Rebounding Prices

Crude oil inventories in the United States rose by 1.96 million barrels for the week ending September 13, according to The American Petroleum Institute (API). Analysts had expected a 100,000-barrel drop. For the week prior, the API reported a 2.79-million-barrel decrease in crude inventories. So far this year, crude oil inventories are 10.9 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 Petroleum Reserve (SPR)…