7/9/2019, 10:51 PM (Source: TeleTrader)
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API shows drop in crude inventories - report

The American Petroleum Institute's report for the week ending July 5 on Tuesday revealed an decrease in crude inventories in the United States, according to multiple media reports. The volume of crude oil fell by over 8.1 million barrels.

The report also showed a stockpile decline of 257,000 barrels in the volume of gasoline, while the distillates supply increased by more than 3.7 million barrels.

The WTI for August delivery advanced 1.42%, to go for $58.41 a barrel at 4:38 pm ET, while the international benchmark Brent for September settlement gained 1.03% two minutes later, to go for $64.55 per barrel.

Breaking the News / MD