8/6/2019, 10:52 PM (Source: TeleTrader)
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API reportedly measures drop in US oil inventories

Brent crude for settlement in October held near the earlier seven-month low on Tuesday after traders learned from the media in the United States that the American Petroleum Institute measured a drop in commercial inventories of the commodity by 3.43 million barrels in the seven days through August 2. The volume in the industry hub in Cushing, Oklahoma, is said to have dropped by 1.6 million barrels. Reports indicated that gasoline fell by 1.1 million while the distillates item grew by 1.2 million barrels week on week.

West Texas Intermediate for delivery next month was 2.64% down at 10:41 pm CET at $53.55 per barrel. Brent fell 1.95% to $58.88 for one barrel.

Breaking the News / IT