US oil inventories down 370,000 barrels last week: API

11/06/2025 Argaam
Oil tanks

Oil tanks

US crude oil inventories continued to decline last week, contrary to expectations. On the other hand, gasoline and distillate stockpiles rose, offering mixed signals about US energy demand.

 

Crude inventories fell by 370,000 barrels during the week ended June 6, contrary to expectations for a 700,000-barrel increase, the American Petroleum Institute (API) said in a report released June 10.

 

However, the report showed an increase of 2.97 million barrels in gasoline stocks, while distillate stocks—which include diesel and heating oil—jumped by 3.712 million barrels.

 

Investors are awaiting the Energy Information Administration’s official inventory data, which is expected to reflect a decline by 2.4 million barrels.

 

At the close of June 10 trading, Brent crude futures for August delivery fell 0.25%, or 17 cents, to $66.87 a barrel.

 

US West Texas Intermediate (WTI) crude futures for July delivery fell 0.47%, or 31 cents, to $64.98 a barrel.

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