US oil inventories lose over 5M barrels last week: API

14/08/2024 Argaam

US oil inventories lose over 5M barrels last week: API

Oil tanks

US oil inventories fell by 5.2 million barrels during the week ended Aug. 9, the American Petroleum Institute (API) said in its weekly report. 

 

Gasoline stocks fell by 3.7 million barrels during the past week, while distillate stocks (including diesel and heating oil) rose by about 612,000 barrels. 

 

Meanwhile, Brent crude futures for October delivery fell 1.95%, or $1.61, to close $80.69 a barrel on Aug. 13. WTI crude for September delivery declined 2.15%, or $1.71, to record $78.35 per barrel. 

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