6/28, 10:33 PM (Source: TeleTrader)
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Report: US oil inventories down by 3.8M barrels

United States crude inventories decreased by 3.8 million barrels in the week ending June 24, marking the largest withdrawal since mid-April, private data from the American Petroleum Institute (API) reportedly showed on Tuesday.

Reserves in Cushing, Oklahoma, allegedly dropped by 650,000 barrels. Gasoline stockpiles jumped by 2.85 million barrels, while distillate inventories rose by 2.61 million barrels, according to the reported data.

West Texas Intermediate for August deliveries improved by 1.71%, to go for $111.70 per barrel at 4:40 pm ET, while Brent for settlements in August surged 2.16%, selling at $118.10 per barrel at 4:41 pm ET.

Baha Breaking News (BBN) / AB