US oil inventories rise 13.4M barrels: API

09:24 AM (Mecca time) Argaam
Commercial crude oil inventories increased by 13.4 mln barrels over the past week

Commercial crude oil inventories increased by 13.4 mln barrels over the past week

US oil and gasoline inventories rose during the week ended Feb. 6, according to estimates by the American Petroleum Institute (API).

 

The institute, in a report issued today, Feb. 11, said that commercial crude oil inventories increased by 13.4 million barrels over the past week.

 

The report showed that gasoline inventories rose by 3.3 million barrels over the same period, while distillate inventories, including diesel and heating oil, fell by two million barrels.

 

Investors await the release of official data from the Energy Information Administration later in the day, amid expectations for a 400,000-barrel drop in oil inventories.

 

On Feb. 10, Brent crude futures for April delivery retreated 0.35%, or $0.24, to $68.8 per barrel.

 

US Nymex crude futures for March delivery decreased 0.62%, or $0.40, to $63.96 per barrel.

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