Open Demo Account
Home / Market Update / API: US oil stocks fell by 5.8 million barrels

API: US oil stocks fell by 5.8 million barrels

Adel 16 November, 2022 2:45 pm Market Update

The American Petroleum Institute said that oil inventories fell by 5.8 million barrels in the week ending on the eleventh of November.

The American Institute stated in its weekly report that gasoline stocks rose by 1.7 million barrels, and distillate stocks rose by 850 thousand barrels.

Today, Wednesday, the US Energy Information Administration is scheduled to release official data on inventories, amid expectations that crude stocks will decline by about two million barrels.

And oil prices rose when trading settled on Tuesday, as Brent crude futures for January delivery rose by 0.8% at $93.86 a barrel upon settlement, and US West Texas crude for December delivery increased by 1.2%, recording $86.92 a barrel.

Tags

Check Also

Goolsbee Lauds September’s Jobs Report

Interviewed at Bloomberg, Chicago Fed President Austan Goolsbee said on Friday that he considered the latest …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends