8/4, 10:32 PM (Source: TeleTrader)
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US oil inventories drop by 8.6M barrels - report

Crude oil inventories in the United States decreased by 8.587 million barrels in the week ending July 31, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Reserves in Cushing, Oklahoma, allegedly went up by 1.63 million barrels.

For the same week, gasoline inventories allegedly dropped by 1.75 million barrels, while distillate inventories jumped 3.82 million barrels in the same period.

West Texas Intermediate (WTI) for September delivery advanced 2.19% to sell for $41.62 per barrel at 4:30 pm ET, while Brent for settlements in October gained 1.05%, trading at $44.37 per barrel a minute later.

Breaking the News / BU