US crude inventories fall by 3.8M barrels last week: API

US crude oil inventories went down by 3.82 mln barrels last week

US crude oil inventories declined by 3.82 million barrels during the week ended Sept. 19, according to the latest estimates released by the American Petroleum Institute (API).

Gasoline inventories declined by 1.05 million barrels, while distillate inventories — including diesel and heating oil — rose by 518,000 barrels during the same period.

Investors are anticipating the release of official data from the Energy Information Administration (EIA) today, Sept. 24, with the Wall Street Journal estimating a decline of 300,000 barrels.

On Sept. 23 close, Brent crude futures for November delivery rose 1.6% or $1.06 to settle at $67.63 per barrel.

Meanwhile, WTI crude futures for November delivery climbed 1.8% or $1.13 to $63.41 per barrel.