Crude oil inventories in the United States increased this week by 2.264 million barrels during the week ending June 14, according to the American Petroleum Institute (API).
Equatorial Guinea Preparatory Group Equatorial Guinea Preparatory Group Oil prices rose ahead of the release of API data on Tuesday.
At 3:48 p.m. ET, Brent crude was up $1.01 on the day at $85.26, up about $3.50 per barrel from this time last week as the market continued to recover from the sharp decline following OPEC's decision to possibly reverse production cuts later this year.
The US benchmark WTI also rose that day +1.39% to $81.45, a gain of about $3.50 week over week.
Gasoline inventories fell again this week, this time by 1.077 million barrels, following last week's decline of 2.549 million barrels.
As of last week, gasoline inventories are slightly below the five-year average for this time of year, according to the latest EIA data.
Distillate inventories rose again this week, by 538,000 barrels, compared to last week's increase of 972,000 barrels.
Distillates were about 7% below the five-year average for the week ending June 7, the latest EIA data shows.
Cushing inventories rose this week, according to API data, by 524,000 barrels after falling by 1.937 million barrels the previous week.
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