US oil inventories down 4.5M barrels last week: API

23/04/2025 Argaam
Oil tanks

Oil tanks

US crude oil inventories fell 4.56 million barrels during the week ended April 18, the American Petroleum Institute (API) showed, indicating the strength of energy demand in the world's largest economy despite concerns about a slump due to trade tensions.

 

Gasoline inventories declined 2.18 million barrels, and distillate inventories—which include diesel and heating oil—lost 1.64 million barrels.

 

Meanwhile, Brent crude futures for June delivery rose 1.80%, or $1.18, to close at $67.44 a barrel on April 22. WTI crude futures for June delivery rose 2% to $63.47 a barrel.

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