US oil inventories down by 7.7 million barrels - report

Tuesday, 04. May 2021 22:33

Crude inventories in the United States decreased by 7.69 million barrels compared to last week, according to private data reportedly published by the American Petroleum Institute (API) on Tuesday.

Meanwhile, gasoline inventories decreased by 5.31 million barrels, while its distillate reserves were down by 3.45 million barrels over the same week.

Oil prices were up following the report, with Brent delivery for July growing by 1.30% to sell for $68.96 per barrel at 4:36 pm ET and West Texas Intermediate (WTI) for settlements in June gained 1.92% to go for $65.81 per barrel a minute later.

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