API data shows decline in US crude stocks and increase in fuel

Market sources, quoting data from the American Petroleum Institute (API), said on Tuesday that US crude oil inventories fell last week, while gasoline and distillate inventories rose.

According to “Reuters”, the sources said that crude stocks fell by about 7.9 million barrels in the week ending November 25.

Gasoline stocks increased by about 2.9 million barrels, while distillate stocks increased by about 4.0 million barrels, according to the sources, who asked not to be identified.