US crude inventories fall by 5.8 million barrels – report
Crude oil inventories in the United States declined by 5.82 million barrels in the week ending January 8, the American Petroleum Institute (API) reportedly said in its weekly report on Tuesday. During the same period, crude reserves in Cushing, Oklahoma, decreased by 232,000 barrels.
The US distillate inventories soared by 4.43 million barrels over the seven-day period, while gasoline stockpiles gained 1.88 million barrels.
West Texas Intermediate (WTI) futures for February delivery jumped 2.26% to $53.38 per barrel at 4:35 pm ET and March Brent was up 2.03% at 4:36 pm ET, going for $56.75 per barrel.
Get involved!
Comments