U.S. crude oil futures fell slightly from post-settlement levels Wednesday after the American Petroleum Institute reported an unexpected build in weekly domestic crude inventories.
Crude Oil WTI Futures, the U.S. benchmark, recently traded at $63.86 a barrel following the report after settling down $1.62 at $63.97 barrel.
U.S. crude inventories rose by 622,000 barrels for the week ended Aug. 29, compared with a draw of 974,000 barrels reported by the API for the previous week. That confounded expectations for a draw of 3.4M barrels.
The official government inventory report is due Thursday at 10:30 a.m. EDT (1430 GMT).
Source :
https://www.investing.com/news/commodities-news/us-oil-futures-dip-after-api-inventory-shows-unexpected-build-in-crude-stocks-4222942
