US oil inventories fall by 4.2 mln barrels: API

03/10/2023 Argaam

US oil inventories fall by 4.2 mln barrels: API

US oil inventories fell by 4.2 million barrels during the week ended Sept. 29, American Petroleum Institute (API) data showed.

 

In its weekly report, API said gasoline stocks rose by about 3.95 million barrels last week, and distillate stocks increased by 349,000 barrels.

 

The US Energy Information Administration is scheduled to issue official inventory data on Oct. 4, amid expectations that crude stocks will fall by 92,000 barrels.

 

Oil closed higher today with Brent crude futures for December delivery rose 0.25%, or 21 cents, to $90.92 per barrel, after falling during trading to $89.50.

 

WTI crude for November delivery gained 0.45%, or 41 cents, to $89.23 per barrel, after slipping to $87.76 during the session.

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