U.S. Crude Oil Futures Update

U.S. crude oil futures remained stable in post-settlement trading on Tuesday following a report from the American Petroleum Institute (API) indicating a larger-than-expected decline in weekly domestic crude stocks.

Current Trading Status

Crude Oil WTI Futures, the U.S. benchmark, recently traded at $71.50 per barrel after settling up 1.7% at $71.56 per barrel.

Inventory Changes

U.S. crude inventories decreased by approximately 4.3 million barrels for the week ending September 20, in contrast to a build of 2 million barrels reported by the API the previous week. Economists had anticipated a decline of about 1.1 million barrels.

Additionally, gasoline stockpiles fell by around 3.4 million barrels, while distillate inventories—which include diesel and heating oil—declined by 1.1 million barrels.

The official government inventory report is scheduled for release on Wednesday at 10:30 a.m. EST (1530 GMT).