US crude oil inventories fall 6M barrels last week: API

Oil tanks

US crude oil inventories declined by 5.9 million barrels in the week ended Nov. 22, with Cushing crude oil stocks falling by 734,000 barrels, American Petroleum Institute (API) weekly data showed.

Gasoline stocks rose by 1.8 million barrels last week, while distillate stocks—including diesel and heating oil—increased by more than 2.5 million barrels.

Meanwhile, Brent crude futures for January 2025 delivery declined 0.25%, or $0.20, to close at $72.81 a barrel on Nov. 26.

Likewise, WTI crude for December delivery eased 0.25%, or $0.17, to $68.77 a barrel.