US crude inventories add 2.4M barrels: API

The American Petroleum Institute (API) said early today, Dec. 24, that US crude oil inventories increased by 2.39 million barrels in the week ended Dec. 19.

The data showed that gasoline inventories also rose by 1.1 million barrels last week, while distillate stocks added 685,000 barrels.

On Dec. 23, Brent crude futures for February delivery edged up 0.50%, or 31 cents, to $62.38 a barrel.

Similarly, US Nymex crude futures for February delivery rose by 0.64%, or 37 cents, to $58.38 per barrel.