API Says US Crude Stocks Below Last Year's Level

 Statistics published by the American Petroleum Institute (API) indicate that US crude oil stocks declined by 4.5mn barrels - or nearly 643,000 b/d - in the week 2-8 December, after falling by 7mn barrels the week before. The latest API figures estimates that US crude stocks are now 18mn barrels lower than at the same time last year.