‎US crude stocks rise 7.1M barrels last week: API

‎US crude stocks rise 7.1M barrels last week: API ‎US crude stocks rise 7.1M barrels last week: API

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Oil tanks

US commercial crude oil inventories rose in the week ended Sept. 11, according to estimates from the American Petroleum Institute (API), alongside increases in derivatives stocks.

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The API said in a report issued on Sept. 15 that crude inventories rose by 7.1 million barrels last week.

Gasoline stocks increased by 1.5 million barrels, while distillate inventories, which include diesel and heating oil, rose by 1.6 million barrels, the report showed.

Official data from the US Energy Information Administration (EIA) is due on Wednesday. Forecasts point to a 1.4 million-barrel decline in crude inventories.

At Tuesday’s settlement, Brent crude futures for November delivery rose 2.90% to $108.75 a barrel, while US West Texas Intermediate (WTI) crude futures for October delivery gained 4.38% to $105.83 a barrel.

 

Oil tanks

US commercial crude oil inventories rose in the week ended Sept. 11, according to estimates from the American Petroleum Institute (API), alongside increases in derivatives stocks.

The API said in a report issued on Sept. 15 that crude inventories rose by 7.1 million barrels last week.

Gasoline stocks increased by 1.5 million barrels, while distillate inventories, which include diesel and heating oil, rose by 1.6 million barrels, the report showed.

Official data from the US Energy Information Administration (EIA) is due on Wednesday. Forecasts point to a 1.4 million-barrel decline in crude inventories.

At Tuesday’s settlement, Brent crude futures for November delivery rose 2.90% to $108.75 a barrel, while US West Texas Intermediate (WTI) crude futures for October delivery gained 4.38% to $105.83 a barrel.

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