US gasoline stocks gain more than 4M barrels last week: API

04/12/2024 Argaam
Oil tanks

Oil tanks

US oil inventories rose by 1.2 million barrels last week, with stockpiles at the Cushing delivery center—the largest storage center in the US—increasing by 112,000 barrels, data from the American Petroleum Institute (API) showed.

 

Gasoline inventories rose by 4.6 million barrels during the week ended Nov. 29, while distillate inventories—which include diesel and heating oil—rose by more than 1 million barrels.

 

Meanwhile, Brent crude futures contract for February 2025 delivery rose 2.5%, or $1.79, to close at $73.62 a barrel on Dec. 3.

 

WTI crude futures for January 2025 delivery rose 2.7%, or $1.84, to $69.94 a barrel.

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