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Oil futures slip after API report shows weekly decline in US crude supplies

AuthorYasin Ebrahim
Published 22/07/2025, 21:56
© Reuters.
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Investing.com -- U.S. crude oil futures fell from post-settlement levels Tuesday as the American Petroleum Institute reported a modest decline in weekly domestic crude inventories.

Crude Oil WTI Futures, the U.S. benchmark, recently traded at $65.47 a barrel following the report after settling up $0.99, or 1.5%, at $66.21 barrel.

U.S. crude inventories fell by about 577,00 barrels for the week ended Jul. 18, compared with a build of 19.1M barrels reported by the API for the previous week.

Gasoline stockpiles decreased by 1.2M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- increased by about 3.48M barrels.

The official government inventory report is due Wednesday at 10:30 a.m. EDT (1430 GMT).

 

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