Oil inventories drop 1 million barrels last week, gas inventories jump: API by Investing.com


© Reuters.

By Yasin Ebrahim

Investing.com – U.S. crude inventories fell less than expected last week and inventories of commodities, including gasoline, jumped, indicating weaker fuel demand, American Petroleum Institute data shows released Tuesday.

, the US benchmark, traded at $ 81.27 per barrel on the news, after rising 3.5% to $ 83.72 per barrel.

fell about 1.0 million barrels for the week ended Jan. 7. This compares to a 6.4 million barrels draft reported by API for the previous week. Economists were expecting a draft of around 2.0 million barrels.

API data also showed gasoline inventories increased by 11 million barrels last week and distillate inventories increased by 3.0 million barrels.

The official government inventory report due Wednesday is expected to show the United States fell about 1.9 million barrels last week.

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. The prices may therefore not be exact and differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will not accept any responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.


Comments are closed.