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5/10, 10:33 PM (Source: TeleTrader)
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Report: US oil inventories up by 1.62M barrels

Crude oil inventories in the United States increased by 1.62 million barrels in the week ending May 6, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Reserves in Cushing, Oklahoma, allegedly grew by 92,000 barrels.

Gasoline stockpiles rose by 823,000 barrels, while distillate inventories were up by 662,000 barrels, according to the reported data.

West Texas Intermediate (WTI) deliveries in June fell by 2.40% to go for $100.13 per barrel at 4:24 pm ET, while Brent for July settlements was 2.48% lower, selling for $102.60 per barrel at 4:26 pm ET.

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