Oil tanks

US oil inventories rose by 939,000 barrels in the week ended Dec. 15, American Petroleum Institute (API) said in a recent report.

 

Gasoline stocks increased by 669,000 barrels during the past week, while distillate stocks—including diesel and heating oil—increased by 2.74 million barrels, the report said.

 

Meanwhile, Brent crude futures for February delivery rose by 1.65%, or $1.28, to close on Dec. 19 at $79.23 per barrel—the highest level since Nov. 30.

 

WTI crude for February delivery (the most active contract) increased by 1.55%, or $1.12, to $73.94 per barrel, which is the highest closing price since the beginning of this month.

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