9/12, 10:33 PM (Source: TeleTrader)
more TeleTrader news

US oil inventories reportedly up by 1.17M barrels

United States crude inventories unexpetedly increased 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 climbed by 1.17 million barrels.

Meanwhile, reserves in the industry hub in Cushing, Oklahoma, fell by 2.42 million barrels. The report is also said to have shown a rise of 4.21 million barrels in gasoline inventories and a 2.59-million-barrel jump in distillate stockpiles.

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

Baha Breaking News (BBN) / NP