3/14, 9:54 PM (Source: TeleTrader)
more TeleTrader news

US oil inventories said to be up by 1.15M barrels

United States crude inventories increased more than expected last week, private data showed on Tuesday. According to media reports, the American Petroleum Institute (API) said in its weekly report that US crude stockpiles rose by 1.15 million barrels.

Meanwhile, reserves in the industry hub in Cushing, Oklahoma, declined by 946,000 barrels. The report is also said to have shown a drop of 4.59 million barrels in gasoline inventories and a 2.89 million decline in distillate stockpiles.

Traders are now awaiting official figures from the Energy Information Administration (EIA) scheduled for Wednesday.

Baha Breaking News (BBN) / NP