Rapid Reads News

HOMEcorporateentertainmentresearchmiscwellnessathletics

US oil futures fall after API inventory shows unexpected build in crude stocks


US oil futures fall after API inventory shows unexpected build in crude stocks

Investing.com -- U.S. crude oil futures fell from post-settlement levels Tuesday as the American Petroleum Institute reported an unexpected increase in weekly domestic crude inventories.

Crude Oil WTI Futures, the U.S. benchmark, recently traded at $63.08 a barrel following the report after settling at $63.17 barrel.

U.S. crude inventories increased by 1.5 million barrels for the week ended Aug. 2, compared with a draw of 4.2M barrels reported by the API for the previous week. That confounded expectations for a draw of 0.8M barrels.

The official government inventory report is due Wednesday at 10:30 a.m. EDT (1430 GMT).

Related articles

US oil futures fall after API inventory shows unexpected build in crude stocks

Clients buying into summer rally, bracing for later pullback, says BofA's Hartnett

Previous articleNext article

POPULAR CATEGORY

corporate

4971

entertainment

6216

research

3041

misc

6059

wellness

5092

athletics

6338