US oil inventories add nearly 2M barrels: API

18/09/2024 Argaam

US oil inventories add nearly 2M barrels: API

Oil tanks

Crude oil inventories in the United States rose last week by 1.96 million barrels, contrary to expectations of a slight decrease, data from the American Petroleum Institute (API) showed.

 

The country's gasoline stocks rose by 2.3 million barrels during the week ended Sept. 13, while distillate stocks rose by about the same amount.

 

Meanwhile, Brent crude futures for November delivery rose 1.6%, or $1.13, to close on Sept. 17 at $73.88 a barrel—the highest level since Sept. 2.

 

WTI crude futures for October delivery also rose 2.1%, or $1.48, to $71.57 a barrel—the highest since August.

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