The American Petroleum Institute reported Tuesday night that US crude supplies increased by 7.5 million barrels for the week ending July 17, according to sources. According to reports, API data also showed that gasoline stocks fell by 2 million barrels, while distillate inventories decreased by almost 1.4 million barrels. Meanwhile, crude stocks at the Cushing, Oklahoma storage center increased by 716,000 barrels during the week, the sources said. The inventory data from the Energy Information Administration will be released on Wednesday. EIA data is expected to show crude inventories fell by 1.9 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast a decrease in supply of 2 million barrels for gasoline and an increase of 280,000 barrels for distillate inventories. September West Texas Intermediate Crude CLU20,
It was at $ 41.63 a barrel in e-commerce. It settled on Tuesday at $ 41.92 on the New York Mercantile Exchange.
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