United States crude inventories increased by 1.86 million barrels in the week ending July 15, private data from the American Petroleum Institute (API) reportedly showed on Wednesday, APA reports citing Teletrader.
Reserves in Cushing, Oklahoma, were allegedly up by 523,000 barrels. Moreover, gasoline stockpiles rose 1.29 million barrels. On the other hand, distillate inventories fell by 2.15 million barrels, according to the reported data.
West Texas Intermediate for August deliveries gained 2.06%, to go for $104.14 per barrel at 2:29 pm ET, while Brent for settlements in September advanced 1.53%, selling at $107.31 per barrel at 4:28 pm ET.