US oil inventories down 1.4M barrels last week: API

01/01/2025 Argaam
Oil tanks

Oil tanks

US oil inventories fell by 1.4 million barrels during the week ended Dec. 27, data from the American Petroleum Institute (API) showed.

 

Gasoline stocks rose by 2.2 million barrels last week, while distillate stocks—including diesel and heating oil—rose by about 5.7 million barrels.

 

Meanwhile, Brent crude futures for March 2025 delivery climbed 0.9%, or 65 cents, to settle at $74.64 a barrel on Dec. 31. WTI crude futures for February 2025 delivery rose 1%, or 73 cents, to $71.72 a barrel.

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