US oil inventories drop by 8.3M barrels - report

Tuesday, 14. July 2020 22:33

Crude oil inventories in the United States dropped by 8.3 million barrels in the week ending July 10, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Reserves in Cushing, Oklahoma, allegedly rose by 0.548 million barrels.

For the same period, gasoline inventories supposedly fell 3.6 million barrels, while distillate inventories increased by 3.03 million barrels in the same week.

West Texas Intermediate (WTI) for August delivery jumped 2.33% to sell for $40.42 per barrel at 4:36 pm ET, while Brent for settlements in September gained 1.90%, trading for $43.01 per barrel a minute later.

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Breaking the News / BU