Open Demo Account
Home / Market Update / API: US oil stocks rose by 14.8 million barrels

API: US oil stocks rose by 14.8 million barrels

Adel 11 January, 2023 3:55 pm Market Update

The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January.

In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels.

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

And oil prices rose when trading settled on Tuesday, as Brent crude futures for March delivery rose 0.6% at $80.10 a barrel, and US West Texas crude for February delivery increased 0.7%, or 49 cents, to $75.12.

Tags

Check Also

Asian Markets Erupt as U.S.-Iran MOU Signals End to War: Nikkei Hits Record High Ahead of BOJ Rate Hike

Key Takeaways KOSPI leads Asia: South Korea’s index surged 5.6%, coming back within sight of …

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