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10/19, 10:40 PM (Source: TeleTrader)
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US oil stockpiles rise by 3.3M barrels - reports

Crude inventories in the United States increased by 3.29 million barrels in the week ending October 15, exceeding analyst forecasts, private data from the American Petroleum Institute (API) reportedly revealed on Tuesday. Oil reserves in Cushing Oklahoma were down by 2.5 million barrels in the period.

Meanwhile, gasoline stockpiles in the US reportedly added 3.5 million barrels during the same week, while the country's distillate reserves saw additional 3 million barrels.

Following the reports, West Texas Intermediate (WTI) for settlements in December gained 1.13% at 4:45 pm ET to sell for $82.35 per barrel. Brent for deliveries in December went up by 1.03%, trading at $85.02 per barrel.

Breaking the News / LH