SEATTLE (Oil Monster): U.S. crude oil futures rose from post-settlement levels Tuesday after the American Petroleum Institute reported a mix inventory report as weekly domestic crude inventories increased by more than expected, but product stockpiles including gasoline slipped.
Crude Oil WTI Futures, the U.S. benchmark, recently traded at $62.04 a barrel following the report after settling up 0.1% at $61.73 barrel.
U.S. crude inventories increased by about 2.8M barrels for the week ended Oct. 3, compared with a draw of about 3.7M barrels reported by the API for the previous week. The build was larger than expectations for a build of about 2.3M barrels.
Gasoline stockpiles decreased by 1.3M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by about 1.8M barrels.
The official government inventory report is due Wednesday at 10:30 a.m. EDT (1430 GMT).
Courtesy: www.investing.com
