Petroleum Institute: Oil and fuel stocks in the United States fell last week


Oil tanks in the US state of Oklahoma. Reuters Archive

(Reuters) – Data from the American Petroleum Institute showed on Tuesday that stocks of crude oil, gasoline and distillates in the United States fell last week.

Crude inventories fell by 4 million barrels in the week ending on August 7, to about 516 million barrels, while analysts had expected a decrease of 2.9 million barrels.

The Petroleum Institute said oil stocks at the delivery center in Cushing, Oklahoma, rose 1.1 million barrels.

Gasoline stocks fell 1.3 million barrels, while analysts polled by Reuters had expected a decrease of 674,000 barrels.

Distillate stocks, which include diesel and heating oil, fell by 2.9 million barrels, while 357,000 barrels were expected to rise.

The data showed that US imports of crude oil last week decreased by 62 thousand barrels per day.

Wajdi Alfi preparation for the Arabic newsletter


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