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U.S. Oil Supplies Rise by 7.4 M Barrels: API

M. Ali 3 March, 2021 4:05 am Commodities, Market Update

Crude oil inventories in the United States increased by about 7.4 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday.

Gasoline inventories declined by 9.9 million barrels, while distillate stockpiles fell by 9.1 million barrels.

Earlier today, Brent crude futures for May delivery fell by 99 cents to finish at $62.70 per barrel.

Meanwhile, the West Texas Intermediate (WTI) crude futures for April delivery closed lower by 89 cents at $59.75 per barrel.

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