US crude oil inventories rise last week: API

29/01/2025 Argaam
Oil tanks

Oil tanks

US oil inventories rose by 2.68 million barrels last week, while stocks at the Cushing delivery hub (the largest storage hub in the US) increased by about 144,000 barrels, data from the American Petroleum Institute (API) showed.

 

Gasoline stocks jumped by 1.89 million barrels during the week ended Jan. 24, while distillate stocks – which include diesel and heating oil – fell by about 3.75 million barrels.

 

Meanwhile, Brent crude futures for March delivery rose by 0.55%, or 41 cents, to close at $77.49 a barrel. WTI crude futures for March delivery (the most active contract) inched up by 0.8%, or 60 cents, to $73.77 a barrel.

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