US crude inventories decreased by 399,000 barrels last week
US commercial crude oil inventories fell in the week ended July 3, according to estimates from the American Petroleum Institute (API), while gasoline and distillate stockpiles also declined. 
API said in a report released on July 7 that US crude inventories decreased by 399,000 barrels last week.
Gasoline inventories fell by 2.92 million barrels, while distillate stocks- including diesel and heating oil- declined by 1.80 million barrels during the same period.
Official inventory data from the US Energy Information Administration (EIA) are due today, July 8. Analysts expect US crude stockpiles to fall about 1.4 million barrels.
Brent crude futures for September settlement rose 3% to settle at $74.16 a barrel on Tuesday, while US West Texas Intermediate crude for August delivery gained 2.76% to $70.44 a barrel.
US crude inventories decreased by 399,000 barrels last week
US commercial crude oil inventories fell in the week ended July 3, according to estimates from the American Petroleum Institute (API), while gasoline and distillate stockpiles also declined.
API said in a report released on July 7 that US crude inventories decreased by 399,000 barrels last week.
Gasoline inventories fell by 2.92 million barrels, while distillate stocks- including diesel and heating oil- declined by 1.80 million barrels during the same period.
Official inventory data from the US Energy Information Administration (EIA) are due today, July 8. Analysts expect US crude stockpiles to fall about 1.4 million barrels.
Brent crude futures for September settlement rose 3% to settle at $74.16 a barrel on Tuesday, while US West Texas Intermediate crude for August delivery gained 2.76% to $70.44 a barrel.
