US crude oil inventories gain over 4M barrels last week: API

05/06/2024 Argaam
Oil tanks

Oil tanks

US oil inventories rose by 4.05 million barrels during the week ended May 31, the American Petroleum Institute (API) data showed.

 

Gasoline stocks rose by 4.03 million barrels last week, while distillate stocks (including diesel and heating oil) increased by about 1.98 barrels.

 

Meanwhile, Brent crude futures for August delivery declined more than 1%, or 84 cents, to close at $77.52 a barrel on June 4.

 

WTI crude for July delivery fell 1.3%, or 97 cents, at $73.25 per barrel.

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