US oil inventories add more than 400,000 barrels last week: API

US oil inventories added about 423,000 barrels during the week ended March 1, the American Petroleum Institute (API) said in its weekly report.

Gasoline stocks decreased by 2.8 million barrels during the past week, while distillate stocks—including diesel and heating oil—fell by about 1.8 million barrels.

Brent crude futures for May delivery fell 0.9%, or 76 cents, to close at $82.04 a barrel on March 5.

WTI crude for April delivery fell by 0.75%, or 59 cents, to $78.15 a barrel.