US oil inventories fell by more than 5.5M barrels last week: API

13/03/2024 Argaam

US oil inventories fell by more than 5.5M barrels last week: API

Oil barrels

US oil inventories fell by 5.52 million barrels during the week ended March 8, the American Petroleum Institute (API) said in its weekly report.

 

Gasoline stocks decreased by 3.75 million barrels during the past week, while distillate stocks—including diesel and heating oil—fell by about 1.16 million barrels.

 

Meanwhile, Brent crude futures for May delivery fell 0.35%, or 29 cents, to close at $81.92 per barrel on March 12.

 

WTI crude for April delivery lost 0.45%, or 37 cents, to $77.56 per barrel.

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