US oil inventories decline over 7M barrels last week: API

05/09/2024 Argaam

US oil inventories decline over 7M barrels last week: API

Oil tanks

Crude oil inventories in the US fell by 7.4 million barrels during the week ended Aug. 30, latest data from the American Petroleum Institute (API) showed.

 

Gasoline stocks decreased by 300,000 barrels during the past week, while distillate stocks (including diesel and heating oil) decreased by about 400,000 barrels.

 

Meanwhile, Brent crude futures for November delivery dropped 1.4%, or $1.05, to close at $72.70 a barrel on Sept. 4.


WTI crude futures for October delivery fell 1.6%, or $1.14, to $69.2 a barrel.

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