API: Oil stocks increased by about 3.69 million barrels

Data from the American Petroleum Institute, released in its weekly report on Tuesday, revealed that US oil inventories increased by about 3.69 million barrels in the week ending May 12th. Also, the data also showed that gasoline stocks fell by about 2.46 million barrels last week. Also, distillate inventories decreased by about 3.9 million barrels.

Today, the currency markets are awaiting the release of US energy information data today, Wednesday, on the official data for crude oil inventories, amid expectations of a decline in US oil stocks by about 1.5 million barrels, and this is expected to have a strong impact on crude oil prices during trading.