Data released by the American Petroleum Institute (API) on Wednesday, September 3rd, showed that U.S. crude oil and distillate inventories rose last week, while gasoline inventories fell.

Crude oil inventories increased by 622,000 barrels in the week ending August 29th. Gasoline inventories decreased by 4.58 million barrels, while distillate inventories increased by 3.69 million barrels.

Analysts had expected U.S. crude oil inventories to fall by 2 million barrels, distillate inventories to fall by 600,000 barrels, and gasoline inventories to fall by 1.1 million barrels last week.

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