By Kim Khan
Investing.com - U.S. oil inventories jumped again last week, according to the latest measure from the American Petroleum Institute Tuesday.
Oil stockpiles rose by 11.9 million barrels for the week ended April 3, the API said. The strong rise is not surprising given the demand destruction seen from the Covid-19 pandemic.
The Energy Information Administration will report official government figures tomorrow, with analysts looking for a rise of about 9.3 million barrels in crude inventories, according to forecasts compiled by Investing.com.
WTI Futuresfell nearly 7% in late trading.