US oil futures rise from lows after API reports surprise decline in crude stocks
Trending Articles- WTI Oil pulls back as Hormuz supply worries ease, Iran-US tensions keep volatility high
- Trump says US to help ships stranded in Strait of Hormuz as tanker hit by projectiles
- Bitcoin Price Forecast: BTC hits three-month high on derivatives-led surge
- Australian Dollar holds losses ahead of RBA policy decision
- Ignoring Strategy Reduction Warning, Bitcoin Nears $82,000, Hitting Highest Price Since February
- Crypto Overview: Toncoin, Terra Classic rise by double digits as Bitcoin grips $80,000
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.
