Oil Inventories Fall by 4.1M Barrels Last Week: API By

© Reuters.

By Yasin Ebrahim – U.S. crude stockpiles fell last week easing concerns about the outlook for demand at time when rising Covid-19 infections have forced some countries to renew restrictions.

, the benchmark up $1.24 to $75.34 a barrel on the news, after settling up $1.15 cents to $75.25 a barrel.

fell by 4.1 million barrels for the week ended July 8. That compared with a draw of 8.0 million barrels reported by the API for the previous week.

The API also showed that gasoline inventories fell by about 1.5 million last week, compared with a 2.7 million draw in the prior week, and distillate stocks rose by about 3.7 million barrels.

The official government inventory report due Wednesday is expected to show weekly U.S. declined by about 4.4. million barrels last week.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Most Related Links :
Business News Governmental News Finance News

Need Your Help Today. Your $1 can change life.

[charitable_donation_form campaign_id=57167]

Source link

Back to top button