April 8, 2025

US oil futures fall after API reports decline in crude inventories

Investing.com -- U.S. crude oil futures fell from post-settlement levels Tuesday as the American Petroleum Institute reported a draw in weekly domestic crude stockpiles.

Crude Oil WTI Futures , the U.S. benchmark, recently traded at $58.22 a barrel following the report after settling down 1.9% at $59.58 a barrel.

U.S. crude inventories fell by 1.06M barrels for the week ended Apr 4. compared with a build of 6.04M barrels reported by the API for the previous week.

Gasoline stockpiles increase by about 207,000 barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 1.8M barrels.

The official government inventory report is due Wednesday at 10:30 a.m. ET (1530 GMT).

OK