US oil inventories jump by about 11M barrels last week: API

08:07 AM (Mecca time) Argaam
Oil tanks

Oil tanks

Crude oil inventories in the US rose by 10.9 million barrels during the week ended Oct. 4, data from the American Petroleum Institute (API) showed.

 

Gasoline inventories fell by 557,000 barrels, and distillate inventories—which include diesel and heating oil—declined nearly 2.6 million barrels.

 

Meanwhile, Brent crude futures for December delivery fell 4.65%, or $3.75, to close at $77.18 a barrel on Oct. 8. WTI crude futures for November delivery fell 4.65%, or $3.57, to $73.57 a barrel.

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