Crude oil, gasoline, distillate stocks in US decline: API

Oil tanks

Crude oil inventories in the US fell by 573,000 barrels last week, despite a 320,000-barrel increase in inventories at the Cushing delivery center, the largest storage facility in the US, American Petroleum Institute’s (API) weekly data showed.

Gasoline stocks fell by about 282,000 barrels during the week ended Oct. 25, while distillate stocks— including diesel and heating oil—lost about 1.46 million barrels.

Meanwhile, Brent crude slipped 0.4%, or 30 cents, to close at $71.12 a barrel on Oct. 29. WTI crude fell 0.25%, or 17 cents, to $67.21 a barrel.