Investing.com — U.S. crude futures rose in post-settlement trading on Tuesday after the American Petroleum Institute reported an unexpected drop in domestic weekly crude inventories.
the US benchmark, traded at $77.28 per barrel after the report, having settled 1.8% lower at $76.96 per barrel.
fell by about 3.9 million barrels for the week ending July 19, compared with a decline of 4.4 million barrels reported by the API for the previous week and forecasts for production of 700,000 barrels.
The API data showed gasoline inventories fell by 2.8 million barrels, while distillate inventories – the class of fuels that includes diesel and heating oil – fell by 1.5 million barrels.
The report is expected at 10:30 AM EST (3:30 PM GMT) on Wednesday.
