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6/30, 10:37 PM (Source: TeleTrader)
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Private data shows drop in US oil inventories - report

Oil prices suffered losses in the post-settlement trade on Tuesday after private data from the American Petroleum Institute (API) showed a significant decline in crude oil stockpiles of the United States in the week ending June 26.

According to the report, US crude oil stockpiles plunged by 8.156 million barrels, while the country's gasoline stockpiles dropped 2.459 million barrels. On the other hand, distillate stockpiles in the country rose by 2.638 million barrels.

Brent for August delivery lost 1.30% at 4:22 pm ET, going for $41.14 per barrel, while West Texas Intermediate for settlement in the same month traded 0.81% lower at the same time to go for $39.31 a barrel.

Breaking the News / ND