3/29/2022, 10:33 PM (Source: TeleTrader)
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US oil inventories down by 3M barrels - report

Crude oil inventories in the United States decreased by a total of 3 million barrels in the week ending March 25, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Likewise, during the same period, reserves in Cushing, Oklahoma allegedly decreased by 1.06 million barrels.

Furthermore, the stockpiles of distillates declined by 210,000 barrels, while the supply of gasoline dipped by 1.35 million barrels.

West Texas Intermediate (WTI) for deliveries in May increased by 1.46% at 4:34 pm ET to go for $104.91 per barrel. A minute later, Brent for inventories in the aforementioned month rose by 1.65% to sell for $111.15 per barrel.

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