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6/18, 10:37 PM (Source: TeleTrader)
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US crude stocks drop by 812K barrels

Crude inventories in the United States fell by 812,000 barrels for the week ending June 14, the American Petroleum Institute (API) said in its weekly report released on Tuesday. Reserves in the industry hub in Cushing, Oklahoma reportedly grew by almost 520,000 barrels.

In addition, the report showed a stockpile increase of slightly under 1.46 million barrels in the volume of gasoline while the distillates supply dropped by 50,000 barrels.

The WTI for September delivery advanced 3.88% to go for $54.31 per barrel at 4:34 pm ET while the international benchmark Brent for September settlement gained 2.59% to go for $61.48 per barrel at the same time.

Breaking the News / DZ