1/26, 10:31 PM (Source: TeleTrader)
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US crude stockpiles drop by 5.27M barrels - reports

Crude oil inventories in the United States fell by 5.27 million barrels in the week ending January 22, despite analysts' expectations of a modest increase, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Oil reserves in Cushing, Oklahoma, were down by 3.47 million barrels in the same seven-day period.

Meanwhile, the country's distillate stockpiles climbed by 1.4 million barrels, and gasoline inventories jumped 3.06 million barrels last week.

West Texas Intermediate (WTI) for settlements in March lost 0.51% at 4:21 pm ET to sell for $52.57 per barrel. Brent for deliveries in the same month slid 0.07%, trading at $55.87 per barrel four minutes later.

Breaking the News / GA