US oil futures rise from lows after API reports surprise decline in crude stocks
Trending Articles- Bitcoin Returns to $79,000 Level. Prediction Markets Bullish on Breaking $80,000 in April
- Gold holds steady near $4,600 as Fed rate decision looms
- Fed FOMC Meeting Is Approaching: Where Is the Focus? Will There Be More Rate Cuts This Year?
- Goldman Sachs: Structurally Bullish on Gold to $5,400, But Warns of Short-Term Pullback
- Today’s Market Recap: Fed Dissent and AI Capex Surges Define Volatile Earnings Week
- WTI sticks to modest gains above $94.00 as Hormuz standoff fuels supply concerns
Investing.com -- U.S crude oil futures rose in post-settlement trading Tuesday as the American Petroleum Institute reported an unexpected decline in domestic weekly crude stocks.
Crude Oil WTI Futures, the U.S. benchmark, traded at $77.28 a barrel following the report after settling 1.8% lower at $76.96 a barrel.
U.S. crude inventories fell by about 3.9M barrels for the week ended Jul. 19, compared with a draw of 4.4M barrels reported by the API for the previous week and forecasts for a build of 700,000 barrels.
The API data showed that gasoline stockpiles decreased by 2.8M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 1.5M barrels.
The official government inventory report is due Wednesday at 10:30 EST (15:30 GMT).
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
