US gasoline inventories rise by 4 mln barrels: API

13/09/2023 Argaam
Oil tanks

Oil tanks

The American Petroleum Institute (API) said that crude oil inventories in the United States rose by 1.17 million barrels in the week ended Sept. 8.

 

Its weekly report issued today, Sept. 12, API said gasoline stocks rose by 4.21 million barrels last week, and distillate stocks increased by 2.59 million barrels.

 

The US Energy Information Administration is scheduled to issue its official data on stockpiles on Sept. 13, amid expectations that crude stocks will decrease by 1.9 million barrels.

 

At close of trading today, Brent crude futures for November delivery increased by 1.5%, or $1.42, to $92.06 per barrel, after touching $92.38 per barrel during the session—the highest level since Nov. 17, 2022.

 

West Texas Intermediate (WTI) crude contracts for October delivery rose by 1.8%, or $1.55, to $88.84 per barrel—highest level since Nov. 11, 2022.

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