US oil inventories fall by more than 4 mln barrels: API

18/10/2023 Argaam
Oil tanks

Oil tanks

Crude oil inventories in the United States fell more than expected in the week ended Oct. 13, data from the American Petroleum Institute (API) showed.

 

Crude stocks decreased by 4.38 million barrels, against expectations of a 1.27 million barrel decline, API data released on Oct. 17 showed.

 

Gasoline stocks lost 1.58 million barrels and distillate stocks declined by 612,000 barrels last week.

 

Meanwhile, international benchmark Brent crude rose 0.3%, or 25 cents, to close at $89.90 per barrel on Oct. 17. WTI crude settled at $86.66 per barrel.

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