US crude inventories down by 0.83M barrels - reports

Tuesday, 29. September 2020 22:32

Crude inventories in the United States decreased by 0.83 million barrels in the week ending September 25, private data from the American Petroleum Institute (API) reportedly showed on Tuesday. Meanwhile, oil reserves in Cushing, Oklahoma, were up by 1.61 million barrels in the same seven-day period.

Gasoline stockpiles in the US climbed by 1.62 million barrels last week, while the country's distillate reserves fell by 3.42 million barrels in the same week.

West Texas Intermediate for settlements in October dropped 3.89% to $38.99 per barrel during post-settlement trade at 4:24 pm ET following the data release. Brent for deliveries in November fell 4.09%, selling for $40.76 per barrel at 4:20 pm ET.

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