API reports a massive 9.072 million barrel increase in US crude oil inventories, raising concerns about oversupply and potential downward

API reports a massive 9.072 million barrel increase in US crude oil inventories, raising concerns about oversupply and potential downward

The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 9.072 million barrels in the week ending August 7, compared to analyst…