Commodities and Futures News
U.S. Crude Inventory Rose 1.86 Million Barrels Last Week: API
2022.07.19 23:54
Investing.com — U.S. crude oil inventories jumped again last week, API data showed Tuesday, rising 1.86 million barrels.
The rising inventories are exacerbating fears of a wobble in demand as investors brace for an economic downturn.
West Texas Intermediate, the U.S. benchmark, rose 1.1%, to $100.53 a barrel, after the report. Brent Oil Futures crude rose 0.9%, to $107.25 a barrel.
The API data also showed that gasoline inventories rose by 1.29 million barrels after rising 2.9 million barrels the prior week. Distillate stocks fell by 2.1 million barrels.
