Definition
The weekly count of how much crude oil is stored in the US, from the EIA (Energy Information Administration), usually released Wednesdays at 9:30 AM CT (Central Time).
The story
A bigger-than-expected build in stockpiles suggests supply is outpacing demand; a bigger-than-expected draw suggests the opposite. The American Petroleum Institute publishes its own figures Tuesday afternoon (about 3:30 PM CT), which traders treat as a preview.
Why markets watch it
It's one of the most closely watched weekly data points for oil prices.
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