The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose 6.10 million barrels in the week ending April 10. In the week prior, US crude oil inventories rose by 3.719 million barrels. Analysts had expected a 1.3 million barrel draw.
Oil prices fell and global stocks approached highs in mid-April 2026, driven by investor optimism regarding a potential peace deal between the U.S. and Iran, which could ease Middle East tensions and restore energy supplies.
Curious Minds Corner
Why did early oil drillers measure crude in 42-gallon whiskey barrels, and does that standard still rule today?
Barrels were reused whiskey containers that held 42 gallons without leaking; yes, it’s the global standard for pricing oil today.