US oil futures rise from lows after API reports surprise decline in crude stocks

Mitrade
coverImg
Source: DepositPhotos

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

  • Democrats Win Midterms, Driving Gold Up Over $100 Intraday Back Above $4,000
  • Gold Price Forecast: Gold Rebounds Nearly 2% After Falling Below $3,900; Has a Short-Term Bottom Formed?
  • Gold rises to near $3,950 as traders brace for US midterm election
  • * 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.

    goTop
    quote
    Related Articles
    placeholder
    Brent at $103.60: the peace trade is selling paper, but the physical market just drew 5.3 million barrelsBrent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
    Author  Irene Q.
    20 hours ago
    Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
    placeholder
    Today’s Market Recap: AMD Surges Nearly 5% After Hours, AI Stock Rally Lifts Nasdaq, US Midterm Elections in FocusOn November 3, the three major U.S. stock indices ended mixed. A rebound in semiconductor and mega-cap tech stocks pushed the Nasdaq to snap a three-day losing strea
    Author  TradingKey
    22 hours ago
    On November 3, the three major U.S. stock indices ended mixed. A rebound in semiconductor and mega-cap tech stocks pushed the Nasdaq to snap a three-day losing strea
    placeholder
    Forex Today: No signs of Dollar strength on US midterm election dayFinancial markets cling to a cautious stance early Tuesday as focus remains on the midterm elections in the United States (US).
    Author  FXStreet
    Yesterday 09: 54
    Financial markets cling to a cautious stance early Tuesday as focus remains on the midterm elections in the United States (US).
    placeholder
    WTI Crude Plunges 6% Below $100: What Caused the Sharp Drop in Oil Prices?On November 2, Eastern Time, international oil prices fell sharply. As of press time, Brent crude futures (UKOIL) fell 6.3% to $106.2 per barrel; U.S. WTI crude futures (USOIL) fell 6.4%
    Author  TradingKey
    Yesterday 02: 04
    On November 2, Eastern Time, international oil prices fell sharply. As of press time, Brent crude futures (UKOIL) fell 6.3% to $106.2 per barrel; U.S. WTI crude futures (USOIL) fell 6.4%
    placeholder
    WTI Crude Pulls Back From Highs Near $100 as US and Iran Plan Talks, Risking 20% CorrectionUS and Iran plan to resume negotiations to ease geopolitical tensions; WTI crude plummets nearly 2% in response, facing a potential 20% deep pullback on technicals.On November 2, driven b
    Author  TradingKey
    Nov 02, Mon
    US and Iran plan to resume negotiations to ease geopolitical tensions; WTI crude plummets nearly 2% in response, facing a potential 20% deep pullback on technicals.On November 2, driven b
    Live Quotes
    Name / SymbolChart% Change / Price
    USOIL
    USOIL
    0.00%0.00
    UKOIL
    UKOIL
    0.00%0.00
    USDOLLAR-F
    USDOLLAR-F
    0.00%0.00

    Oil Related Articles

    • Best Oil Trading Platforms in 2026: A Complete Guide for Retail Traders
    • Should I Invest in Oil Right Now? The 2026 Oil Price Forecast
    • Crude Oil Trading: How To Invest In WTI/Brent Oil?
    • WTI Moves Upward Near $75.50 on Dovish Fed Outlook, Maersk, CMA CGM Return to Red Sea

    Click to view more