US oil inventories reportedly up by 4.07M barrels - Breaking The News
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US oil inventories reportedly up by 4.07M barrels

Economy
Christian Baha / NP

1 min read

EPA-EFE/TANNEN MAURY

United States crude inventories increased last week, private data showed on Tuesday. According to media reports, the American Petroleum Institute (API) said in its weekly report that US crude stockpiles climbed by 4.07 million barrels.

Meanwhile, reserves in the industry hub in Cushing, Oklahoma, fell by 0.11 million barrels. The report is also said to have shown a decline of 0.41 million barrels in gasoline inventories and a 2.09 million fall in distillate stockpiles.

Traders are now awaiting official figures from the Energy Information Administration (EIA) scheduled for Wednesday.

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