US oil inventories up 1.59 mln barrels: API

26/09/2023 Argaam

US oil inventories up 1.59 mln barrels: API

Oil tanks

US oil inventories rose by 1.59 million barrels during the week ended Sept. 22, in what may be the second increase in inventories in the past seven weeks, American Petroleum Institute (API) data showed.

 

 In its weekly report, API said gasoline stocks fell by about 70,000 barrels last week, and distillate stocks declined 1.7 million barrels.

 

The US Energy Information Administration is scheduled to issue official inventory data on Sept. 27, amid expectations that crude stocks will fall by 1.65 million barrels.

 

Oil prices closed higher on Sept. 26, with Brent crude for November delivery up 0.7%, or 67 cents, at $93.96 per barrel.

 

WTI crude for November delivery rose by 0.8%, or 71 cents, to record $90.39 per barrel, after falling to $88.19 during the session.

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