Petroleum Institute: US oil stocks rise by 951,000 barrels in a week

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The American Petroleum Institute said that crude oil inventories rose by 951,000 barrels in the week ending October 1.

In its weekly report, the American Institute stated that gasoline stocks in the United States rose by 3.7 million barrels, and distillate stocks rose by 345,000 barrels.

Investors are awaiting the US Energy Information Administration’s report on official US stockpiles figures tomorrow, Wednesday, amid expectations of an increase in crude stocks of 200,000 barrels.

And oil prices recorded a rise at the settlement of trading on Tuesday, as the price of Brent crude futures, the standard for December delivery, rose by 1.6 percent to record $82.56 a barrel, and the US NYMEX for November delivery increased by 1.7% at $78.93 a barrel.

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The article, Petroleum Institute: US oil stocks rise by 951,000 barrels in a week, was written in Al Borsa newspaper.