US oil inventories gain 6 mln barrels: API

14/09/2022 Argaam
Oil tanks

Oil tanks

The American Petroleum Institute (API) said crude oil inventories gained 6.035 million barrels in the week ended Sept. 9.

 

API’s weekly report revealed that US gasoline inventories retreated by 3.23 million barrels last week, while distillate inventories increased by 1.75 million barrels.

 

The US Energy Information Administration (EIA) is due to release official inventory data later today, with crude inventories set to see the addition of 1.9 million barrels.

 

Oil prices retreated at the settlement of trading yesterday, Sept. 13, as Brent crude futures for November delivery shed 0.9% to $93.17 a barrel. NYMEX crude for October delivery also dipped by 0.5% to $87.31 per barrel.

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