9/8, 10:33 PM (Source: TeleTrader)
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US oil inventories down by 2.8M barrels - reports

Crude inventories in the United States decreased by 2.8 million barrels in the week ending September 3, private data from the American Petroleum Institute (API) reportedly showed on Wednesday. Oil reserves in Cushing Oklahoma were up by 1.8 million barrels in the same period.

Meanwhile, gasoline stockpiles in the US reportedly gained 6.4 million barrels during that week, while the country's distillate reserves lost 3.7 million barrels.

Following the reports, West Texas Intermediate (WTI) for settlements in October grew by 1.42% to sell for $69.35 per barrel at 4:36 pm ET. At the same time, Brent for deliveries in November jumped 1.61%, trading at $72.69 per barrel.

Breaking the News / LH