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

  • Silver Price Forecast: XAG/USD falls to near $63.50 amid Fed hike bets, higher oil prices
  • * 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
    Crude Oil Price Forecast: Brent Nears $110 Amid Saudi Pipeline Outage, How Much Further Can Oil Rise?Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to
    Author  TradingKey
    5 hours ago
    Supply risks in the Middle East continue to heat up, with international oil prices fluctuating at high levels.During Tuesday's Asian trading session, Brent crude futures (UKOIL-F) rose to
    placeholder
    Brent tests $108 as a key export pipeline stays shut — can the rally clear $110?Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.
    Author  Irene Q.
    Yesterday 07: 16
    Brent crude rose 2.55% to $106.97 and WTI 2.32% to $102.30 as a major regional export pipeline remained offline with no restart timeline. Front-month backwardation has widened to $5.53 from $3.84 a week ago, European gas is at its highest since December 2022, and one analyst sees $119.48 if talks stall.
    placeholder
    TradingKey Daily Market Briefing: CPI Data Boosts Rate Hike Expectations, Geopolitical Risks Spark Oil Price SurgeTracking Market TrendsTradingKey - The three major U.S. stock indices rose across the board last Friday, with the Dow Jones Industrial Average rising 0.98%, the Nasdaq Composite Index gaining 0.96%, a
    Author  TradingKey
    Yesterday 01: 21
    Tracking Market TrendsTradingKey - The three major U.S. stock indices rose across the board last Friday, with the Dow Jones Industrial Average rising 0.98%, the Nasdaq Composite Index gaining 0.96%, a
    placeholder
    US-Iran Conflict Drives Oil Surge as WTI Tops $100 and Brent Nears $110International oil prices continued to advance rapidly this week. On Thursday Eastern Time, WTI crude (USOIL) broke through the $100/barrel mark, closing at $103.94, up 7.51%; Brent crude
    Author  TradingKey
    Sep 11, Fri
    International oil prices continued to advance rapidly this week. On Thursday Eastern Time, WTI crude (USOIL) broke through the $100/barrel mark, closing at $103.94, up 7.51%; Brent crude
    placeholder
    TradingKey Daily Market Briefing: WTI Oil Tops $100, US Stocks Fall for 4th Day, Apple Bucks Trend, CPI AheadTracking Market TrendsTradingKey - On September 10 Eastern Time, the three major US stock indices fell for the fourth consecutive trading day. US August PPI showed upstream price pressures continued t
    Author  TradingKey
    Sep 11, Fri
    Tracking Market TrendsTradingKey - On September 10 Eastern Time, the three major US stock indices fell for the fourth consecutive trading day. US August PPI showed upstream price pressures continued t
    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