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7/16, 10:37 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 12 on Tuesday revealed a decrease in crude inventories in the United States, according to multiple media reports. The volume of crude oil fell by 1.4 million barrels.

The report also showed a stockpile decline of 476,000 barrels in the volume of gasoline, while the distillates supply increased by more than 6.2 million barrels.

The WTI for August delivery decreased 2.09%, to go for $58.02 a barrel at 4:29 pm ET, while the international benchmark Brent for September settlement lost 1.99% at the same time, to go for $64.87 per barrel.

Breaking the News / MD