The American Petroleum Institute reported Tuesday night that U.S. crude supplies fell by 8.3 million barrels for the week ending July 10, according to sources. According to reports, API data also showed that gasoline stocks decreased by 3.6 million barrels, while distillate inventories increased by 3 million barrels. Meanwhile, crude stocks at the Cushing, Oklahoma, storage facility increased by 548,000 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 that crude inventories declined 2.1 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast a decrease in the supply of 2 million barrels for gasoline and an increase of 1.1 million barrels for distillate inventories. August West Texas Raw Intermediate CLQ20,
It was at $ 40.51 a barrel in e-commerce. It was settled Tuesday at $ 40.29 on the New York Mercantile Exchange.
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