US crude oil inventories down last week: API

Oil tanks

US crude oil inventories fell by 770,000 barrels during the week ended Nov. 8, with Cushing crude oil stocks falling by 1.9 million barrels, American Petroleum Institute (API) data showed.

Gasoline stocks rose by 312,000 barrels last week, while distillate stocks—including diesel and heating oil—grew by about 1.14 million barrels.

Meanwhile, Brent crude futures for January 2025 delivery rose 0.55%, or $0.39, to close at $72.28 a barrel on Nov. 13.

NYMEX WTI crude for December delivery grew by 0.45%, or $0.31, to $68.43 a barrel.