US oil inventories fall over 9.3M barrels: API

08:09 AM (Mecca time) Argaam
US crude oil inventories fell by 9.3 million barrels in the week ended Dec. 12

US crude oil inventories fell by 9.3 million barrels in the week ended Dec. 12

US crude oil inventories recorded a sharp decline last week, despite gains in gasoline and distillate stocks, data from the American Petroleum Institute (API) showed on Dec. 17.

 

Crude inventories fell by 9.3 million barrels in the week ended Dec. 12, far exceeding analysts’ expectations for a 1.9 million-barrel decline.

 

Gasoline inventories rose by 4.8 million barrels, while distillate stocks, including diesel and heating oil, increased by 2.5 million barrels over the same period.

 

By the end of trading on Dec. 16, Brent crude futures for February 2026 fell 2.7%, or $1.64, to $58.92 per barrel.

 

Meanwhile, NYMEX crude futures for January 2026 declined 2.75%, or $1.55, to $55.27 per barrel.

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