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Crude oil inventories in the US fell by 1.3 million barrels

WTI after the data has risen to the level of 39,70 per barrel.

04.Aug.16 4:15 AM
By Andrey Shulga


Crude oil inventories in the US fell by 1.3 million barrels
The American petroleum Institute (American Petroleum Institute, API) reported that crude inventories in the US fell by 1.34 million barrels last week. This figure is broadly consistent with market expectations.

The report also showed that inventories in Cushing, Oklahoma, a key storage point of the North American benchmark, WTI crude oil declined last week by 1.3 million barrels.

According to API, total motor gasoline inventories decreased by 450 thousand barrels, while distillate stocks rose by 539 thousand barrels.

The oil market is volatile in recent months amid uncertainty about how soon it will start to shrink a global surplus of raw materials. The supply of oil on the world market still outstripping demand.

3 August, official statistics on stocks of oil and oil products from the us energy information Administration US Department of energy. Investors will be particularly closely monitor these data after an unexpected growth of oil reserves by 1.7 million the previous week.

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