US oil futures slip after mixed API inventory report
2024.07.16 17:19
Investing.com — U.S crude oil futures slipped in post-settlement trading Tuesday as the American Petroleum Institute reported mixed inventory data as domestic weekly crude stocks fell, but gasoline stocks unexpected increased, muddying the demand outlook.
, the U.S. benchmark, traded at $79.76 a barrel following the report after settling 1.4% lower at $80.76 a barrel.
fell by about 4.4M barrels for the week ended Jul. 12, compared with a draw of 1.9M barrels reported by the API for the previous week.
The API data showed that gasoline stockpiles increased by 365,000 barrels, while distillate inventories — the class of fuels that includes diesel and heating oil — increased by 4.9M barrels.
The report is due Wednesday at 10:30 EST (15:30 GMT).
