API: US crude inventories drop, fuel stocks increase

US crude oil inventories fell last week, while gasoline and distillate stocks rose, according to market sources citing data from the American Petroleum Institute on Wednesday.

According to “Reuters”, the sources said that US crude stocks fell by about 1.3 million barrels in the week ending December 23.

Gasoline stocks increased by about 510 thousand barrels, while distillate stocks increased by about 390 thousand barrels, according to the sources, who asked not to be identified.