US oil inventories add over 3M barrels last week: API

08:28 AM (Mecca time) Argaam
Oil tanks

Oil tanks


Crude oil inventories in the US rose last week by 3.13 million barrels, surpassing the expected increase of 1.8 million barrels, the American Petroleum Institute (API) said in its weekly report.

 

The country's gasoline stocks fell by about 928,000 barrels during the week ended Nov. 1, while distillate stocks dropped nearly 852,000 barrels.

 

Meanwhile, Brent crude futures for January delivery increased by 0.60%, or 45 cents, to close at $75.53 a barrel on Nov. 5. However, the prices were down for the intra-day high of $76.24.

 

WTI crude futures for December delivery rose by 0.70%, or 52 cents, to $71.99 a barrel, after touching $72.67 during the session.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.