Crude oil inventories in the United States saw a massive increase of 17.4 million barrels during the week ending August 7, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday

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…