US oil inventories add over 7M barrels last week: API

22/02/2024 Argaam

US oil inventories add over 7M barrels last week: API

Oil tanks

US oil inventories rose by about 7.17 million barrels during the week ended Feb. 16, recent data from the American Petroleum Institute (API) showed.

 

Gasoline stocks increased by 415,000 barrels during the past week, while distillate stocks—including diesel and heating oil—decreased by about 2.9 million barrels.

 

Brent crude futures for April delivery rose 0.85%, or 69 cents, to settle at $83.03 per barrel on Feb. 21.

 

WTI crude for April delivery (the most active) gained 1.15%, or 87 cents, to $77.91 per barrel.

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