US Crude stocks at highest levels since 1982

FXStreet (Mumbai) - The data released by the US government today showed the crude inventories in the US now stand at a level last seen in 1982.

Crude oil inventories rose 8.9 million barrels last week, blowing past the expected level of 4.2 million expected, showed the Department of Energy (DOE) data. However, the inventory buildup reported by DOE is slightly lower than 12.7 million reported by the American Petroleum Group yesterday.