Oil tanks
US crude and fuel inventories declined in the week ended Oct. 24, according to estimates by the American Petroleum Institute (API), signaling stronger energy demand in the world’s largest economy. 
In a report released on Tuesday, Oct. 29, API announced commercial crude stockpiles dropped by four million barrels last week.
Gasoline inventories also fell by 6.35 million barrels during the same period, while distillate stocks, including diesel and heating oil, declined by 4.36 million barrels.
Energy markets are awaiting official inventory data from the Energy Information Administration on Wednesday, which is expected to show a 900,000-barrel drop in crude inventories, following a 1 million-barrel decline the previous week.
At Tuesday’s close, December Brent futures fell 1.86%, or $1.22, to settle at $64.40 a barrel.
December WTI futures also dropped 1.89%, or $1.16, to $60.15 a barrel.
Oil tanks
US crude and fuel inventories declined in the week ended Oct. 24, according to estimates by the American Petroleum Institute (API), signaling stronger energy demand in the world’s largest economy.
In a report released on Tuesday, Oct. 29, API announced commercial crude stockpiles dropped by four million barrels last week.
Gasoline inventories also fell by 6.35 million barrels during the same period, while distillate stocks, including diesel and heating oil, declined by 4.36 million barrels.
Energy markets are awaiting official inventory data from the Energy Information Administration on Wednesday, which is expected to show a 900,000-barrel drop in crude inventories, following a 1 million-barrel decline the previous week.
At Tuesday’s close, December Brent futures fell 1.86%, or $1.22, to settle at $64.40 a barrel.
December WTI futures also dropped 1.89%, or $1.16, to $60.15 a barrel.
