API also noted a decline in refined product inventories
US oil inventories declined during the week ended Feb. 13, along with a decline in refined product inventories, according to estimates from the American Petroleum Institute (API). 
The institute said in a report released Feb. 19 morning that commercial crude oil inventories fell by 609,000 barrels last week.
The report indicated that gasoline stocks decreased by 312,000 barrels, and distillate stocks – including diesel and heating oil – declined by 1.56 million barrels.
Investors are awaiting official data from the Energy Information Administration later today, amid expectations of a 1.1-million-barrel increase in crude oil inventories.
At the close of trading on Feb. 18, Brent crude futures for April delivery rose 4.35%, or $2.93, to $70.35 a barrel.
West Texas Intermediate (WTI) crude futures for March delivery also climbed 4.59%, or $2.86, to $65.19 a barrel.
API also noted a decline in refined product inventories
US oil inventories declined during the week ended Feb. 13, along with a decline in refined product inventories, according to estimates from the American Petroleum Institute (API).
The institute said in a report released Feb. 19 morning that commercial crude oil inventories fell by 609,000 barrels last week.
The report indicated that gasoline stocks decreased by 312,000 barrels, and distillate stocks – including diesel and heating oil – declined by 1.56 million barrels.
Investors are awaiting official data from the Energy Information Administration later today, amid expectations of a 1.1-million-barrel increase in crude oil inventories.
At the close of trading on Feb. 18, Brent crude futures for April delivery rose 4.35%, or $2.93, to $70.35 a barrel.
West Texas Intermediate (WTI) crude futures for March delivery also climbed 4.59%, or $2.86, to $65.19 a barrel.
