😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

US oil futures rise from lows after API reports surprise decline in crude stocks

Published 2024-07-23, 05:04 p/m
© Reuters
CL
-

Investing.com -- U.S crude oil futures rose in post-settlement trading Tuesday as the American Petroleum Institute reported an unexpected decline in domestic weekly crude stocks.   

Crude Oil WTI Futures, the U.S. benchmark, traded at $77.28 a barrel following the report after settling 1.8% lower at $76.96 a barrel.

U.S. crude inventories fell by about 3.9M barrels for the week ended Jul. 19, compared with a draw of 4.4M barrels reported by the API for the previous week and forecasts for a build of 700,000 barrels.

The API data showed that gasoline stockpiles decreased by 2.8M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil --  fell by 1.5M barrels.

The official government inventory report is due Wednesday at 10:30 EST (15:30 GMT).

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.