US crude inventories rise amid falling fuel stocks
U.S. crude oil inventories rose significantly by 9.1 million barrels for the week ending August 7. Meanwhile, gasoline and distillate stockpiles decreased by 1.5 million and 596 thousand barrels, respectively. Despite the increase in American inventories, oil prices rose during the day due to uncertainties surrounding a potential agreement between the United States and Iran, as well as attacks on ships in the Middle East. Expectations of continued gains persisted amid concerns over potential disruptions to oil supplies.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)