Market Pulse: API sees drops in U.S. oil, gasoline inventories: source


Oil futures rose in electronic trade late Tuesday after a trade group reported a large drop in U.S. crude-oil and gasoline inventories.

The American Petroleum Institute said U.S. crude-oil inventories fell 2.4 million barrels last week, while gasoline stocks fell by 5.1 million barrels, according to a source. Distillate inventories were seen up 1 million barrels.

The Energy Information Administration on Wednesday will release official inventory data. Analysts surveyed by S&P Global Commodity Insights expect the official data to show a 2.1 million barrel rise in oil inventories, while gasoline is seen down 100,000 barrels and distillates down 1 million barrels.

West Texas Intermediate crude for June delivery


rose to $113.55 a barrel in electronic trade Tuesday afternoon, up from a close of $112.40 in regular trading.

: Americans have bet $125 billion on sports in the past four years as legalization push continues

Previous article

Crypto: The history of private bank notes in 1800s may hint at the future for stablecoins: Not a good one, says Goldman Sachs

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

More in News