US oil inventories fall by nearly 800,000 barrels: API

29/11/2023 Argaam

US oil inventories fall by nearly 800,000 barrels: API

Oil tankers

US oil inventories fell by 817,000 barrels during the week ended Nov. 24, in what may be the first weekly decline in five weeks, the American Petroleum Institute (API) said in its latest report.

 

Gasoline stocks decreased by 898,000 barrels during the past week, while distillate stocks -- including diesel and heating oil -- rose by 2.8 million barrels.

 

Meanwhile, Brent crude for February delivery (the most active) rose by 2%, or $1.6, to close at $81.47 per barrel Nov. 28. Contract prices for January delivery rose by 2.1% to $81.68 per barrel.

 

WTI crude for January delivery increased by approximately 2%, or $1.55, to record $76.41 per barrel, after touching $77.02 during the session.

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