Oil futures dips on mixed API report as weekly gasoline stocks climb
2024.11.13 17:51
Investing.com — U.S. crude oil futures were slightly lower in post-settlement trading Wednesday after the American Petroleum Institute reported an unexpected fall in weekly domestic inventories, though gasoline supplies ticked up.
, the U.S. benchmark, recently traded at $68.06 a barrel following the report after settling up at $68.43 a barrel.
fell by about 777,000 barrels for the week ended Nov. 8, compared with a build of 3.1 barrels reported by the API for the previous week. Economists were expecting a build of about 1M barrels.
Gasoline stockpiles rise by about 312,000 barrels, while distillate inventories — the class of fuels that includes diesel and — increased by 1.1M barrels.
The report is due Thursday at 10:30 a.m. EST (1530 GMT).
