API Says US Crude Stocks Fell 11.190 Million Barrels Last Week

Investing.com – stocks fell by 11.190 million barrels last week, the American Petroleum Institute (API) said in its estimates on Tuesday, more than expected as gasoline inventories rose by 4.338 million barrels and distillate stocks gained 4.685 million barrels.

Analysts estimated that crude stocks fell by 3.89 million barrels, while distillate inventories rose by 1.464 million barrels and gasoline stocks gained by 2.652 million barrels.

Supplies at the oil storage hub of Cushing, Oklahoma dipped by 2.516 million barrels.

On Wednesday, the Energy Information Administration will release official figures.

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