2023-05-24 00:27:37
The American Petroleum Institute revealed, on Tuesday, that US oil inventories decreased by about 6.8 million barrels during the week ending on the nineteenth of May.
The institute stated in its weekly report that gasoline stocks fell by 6.398 million barrels last week, and distillate stocks fell by 1.771 million barrels.
On Wednesday, the US Energy Information Administration is scheduled to release official data on inventories, amid expectations that crude stocks will rise by 525,000 barrels.
Oil prices rose, at Tuesday’s settlement, by 1.1 percent for Brent crude, to reach $76.84 a barrel, and the US West Texas Intermediate crude for July delivery rose by 1.2 percent, to record $72.91 a barrel.
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