US oil inventories rise over 4M barrels last week: API

09:10 AM (Mecca time) ِArgaam
Oil tanks

Oil tanks

US crude inventories rose by 4.75 million barrels last week, despite a 288,000-barrel drop at the Cushing delivery center—the largest storage center in the US, data from the American Petroleum Institute (API) showed.

 

Gasoline stocks fell by 2.48 million barrels during the week ended Nov. 15, while distillate stocks (which include diesel and heating oil) fell by about 688,000 barrels.

 

On Nov. 19, Brent crude futures for January 2025 delivery settled at $73.31 per barrel, after falling to $72.61.

 

WTI crude futures for December delivery (the contract expires on Nov. 20) rose by 0.35%, or 23 cents, to $69.39 a barrel.

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