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US oil inventories retreat 483,000 barrels a week, says API

T&B Petroleum/Boletim SCA
03/06/2020 20:56
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The American Petroleum Institute (API) on Tuesday reported a drop of 483,000 barrels in American crude oil inventories in the week ended May 29, according to sources familiar with the report. Gasoline inventories rose by 1.7 million barrels in the period, while spirits grew by a total of 5.9 million barrels.

 

Official data from the U.S. Department of Energy will be released tomorrow. The expectation of analysts surveyed by "The Wall Street Journal" is a 2.8 million barrel increase for oil stocks and a 200,000 barrel decline for gasoline stocks, as well as a 3 million barrel increase in stocks of spirits.

 

Today, Brent's most active contracts for August ended the day up 3.26%, trading at $ 39.57 a barrel at ICE in London, while WTI futures for the same month are up 3, 86% at $ 36.81 a barrel on the New York Commodities Exchange (Nymex).

 

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