‎US crude oil, gasoline inventories decline: API

‎US crude oil, gasoline inventories decline: API ‎US crude oil, gasoline inventories decline: API

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Oil tanks

The American Petroleum Institute (API) said that US crude oil inventories as well as gasoline and distillate stocks, in the week ended March 6.

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US crude oil inventories decreased by 1.7 million barrels compared with analysts’ expectations for an increase of 1.1 million barrels.

The data also showed that gasoline inventories fell by 1.8 million barrels, while distillate stocks, including diesel and heating oil, fell by 2.3 million barrels during the same week.

At the close of trading on March 10, Brent crude futures for May delivery fell 11.30%, or $11.16, to $87.80 per barrel.

Meanwhile, US Nymex crude futures for April delivery lost 11.95%, or $11.32, to $83.45 per barrel.

 

Oil tanks

The American Petroleum Institute (API) said that US crude oil inventories as well as gasoline and distillate stocks, in the week ended March 6.

US crude oil inventories decreased by 1.7 million barrels compared with analysts’ expectations for an increase of 1.1 million barrels.

The data also showed that gasoline inventories fell by 1.8 million barrels, while distillate stocks, including diesel and heating oil, fell by 2.3 million barrels during the same week.

At the close of trading on March 10, Brent crude futures for May delivery fell 11.30%, or $11.16, to $87.80 per barrel.

Meanwhile, US Nymex crude futures for April delivery lost 11.95%, or $11.32, to $83.45 per barrel.

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