Oil tanks
Commercial crude oil inventories in the US rose during the week ending Aug. 21, while the Strategic Petroleum Reserve (SPR) continued to approach its operational minimum, the American Petroleum Institute (API) data showed.
In a report published on Aug. 25, API said commercial crude inventories increased by 4.2 million barrels last week.
In contrast, gasoline inventories fell by 3.2 million barrels during the same period, and distillate inventories—which include diesel and heating oil—decreased by 459,000 barrels.
SPR inventories fell by 3.7 million barrels to 289.7 million barrels, approaching the minimum operational level for storage facilities, which ranges between 250 and 300 million barrels.
Official data from the Energy Information Administration (EIA) is scheduled for release today, Aug. 26, with expectations of a 500,000-barrel increase in commercial oil inventories.
At the close of trading on Tuesday, Brent crude futures for October delivery fell 3.89% to $88.58 a barrel, while their counterparts for US benchmark WTI crude for October delivery declined 3.12% to $82.36.
Oil tanks
Commercial crude oil inventories in the US rose during the week ending Aug. 21, while the Strategic Petroleum Reserve (SPR) continued to approach its operational minimum, the American Petroleum Institute (API) data showed.
In a report published on Aug. 25, API said commercial crude inventories increased by 4.2 million barrels last week.
In contrast, gasoline inventories fell by 3.2 million barrels during the same period, and distillate inventories—which include diesel and heating oil—decreased by 459,000 barrels.
SPR inventories fell by 3.7 million barrels to 289.7 million barrels, approaching the minimum operational level for storage facilities, which ranges between 250 and 300 million barrels.
Official data from the Energy Information Administration (EIA) is scheduled for release today, Aug. 26, with expectations of a 500,000-barrel increase in commercial oil inventories.
At the close of trading on Tuesday, Brent crude futures for October delivery fell 3.89% to $88.58 a barrel, while their counterparts for US benchmark WTI crude for October delivery declined 3.12% to $82.36.
