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Oil Inventories Fell by 5.44M Barrels Last Week: API

CommoditiesSep 14, 2021 04:39PM ET
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© Reuters.

Investing.com - U.S. crude stockpiles fell by more than expected last week, tumbling by almost 5.5 million barrels amid continued fallout from production outages caused by Hurricane Ida, figures from the American Petroleum Institute showed.

U.S. crude inventories decreased by 5.437 million barrels for the week ended Sept. 10. That compared with a draw of 2.88 million barrels reported by the API for the previous week. Analysts were expecting a draw of about 2.4 million barrels.

The API also showed that gasoline inventories declined by 2.76 million barrels last week, while distillate stocks fell by 2.89 million.

The official government inventory report due Wednesday is expected to show weekly U.S. crude supplies declined by about 3.54 million barrels last week.

West Texas Intermediate, the benchmark for U.S. crude, climbed to $70.67 a barrel on the news, after settling up 1 cent to $70.46 a barrel.

Oil Inventories Fell by 5.44M Barrels Last Week: API
 

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Comments (7)
Gopinath devamani
Gopinath devamani Sep 14, 2021 7:43PM ET
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should I sell or buy?
Wilmy Gastón
Wilmy Gastón Sep 14, 2021 6:23PM ET
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Md Akahs
Md Akahs Sep 14, 2021 6:06PM ET
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New Jazenevd
New Jazenevd Sep 14, 2021 5:41PM ET
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Oil price goes to triple digits. Sooner or later. Inevitable.
Kelly Mayer
Kelly Mayer Sep 14, 2021 5:41PM ET
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Later.
Beke Julius Julius beke
Beke Julius Julius beke Sep 14, 2021 4:53PM ET
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how do I invest
Ali Kiani
Ali Kiani Sep 14, 2021 4:53PM ET
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I depends on your destination
Stefano Canfora
Stefano Canfora Sep 14, 2021 4:51PM ET
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is it going to rump up? Time to buy?
Ali Kiani
Ali Kiani Sep 14, 2021 4:51PM ET
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Most of the news have a short term and long term effects on thw market.Check the info “ In row “ to get a bigger picture
imran hassan
imran hassan Sep 14, 2021 4:49PM ET
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balance
eddie azhar
eddie azhar Sep 14, 2021 4:49PM ET
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Means?
 
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