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US stocks are declining, losing 3.48 million barrels
image 22 September، 2021
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US inventories are falling, and crude is paring its gains after rising gasoline stocks The report of the US Energy Information Administration issued a few moments ago showed that crude stocks in the United States of America decreased in the last week ending September 17 to 3.48 million barrels, compared to expectations that indicated a decline to 3.02 and compared to a decline of 6.1 million barrels, according to estimates by the American Petroleum Institute issued on Tuesday.

In details, gasoline stocks rose by about 3.47 million barrels, compared to expectations that indicated a rise by 1.4 million barrels, while distillate stocks, which include heating and diesel fuels, fell by 2.55 million barrels (expectations at a decline of 1.29 million barrels).

According to the report, the United States of America imports of oil reached 6.5 million barrels last week, an increase of about 700 thousand barrels over the previous week.

Crude prices have also benefited since the beginning of the session from the statements of the energy ministers in some of the countries of the OPEC region (UAE and Iraq), which confirm that the organization and its producing allies do not need a change in the current production agreement to maintain the balance of oil prices until the first quarter of next year.

Crude continues to record gains that exceeded 2% for Brent crude, which is trading at levels of $75.88 a barrel, an increase of about 2.05%, while the American NYMEX crude is trading at an increase of about 1.83%, and it is trading at levels of $71.78 a barrel.

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