10/14/2020, 10:32 PM (Source: TeleTrader)
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US crude inventories down by 5.4M barrels - reports

Oil inventories in the United States decreased by 5.4 million barrels in the week ending October 9, private data from the American Petroleum Institute (API) reportedly showed on Wednesday. Meanwhile, crude reserves in Cushing, Oklahoma, climbed by 2.2 million barrels over the same period.

Gasoline inventories in the country declined by 1.5 million barrels last week, while distillate reserves in the US fell by 3.9 million barrels in the same seven-day span.

Brent for December delivery rose 2.02% to $43.33 per barrel at 4:30 pm ET and West Texas Intermediate (WTI) November futures increased by 2.19% to $41.06 per barrel at 4:31 pm ET.

Breaking the News / VP