biedexmarkets.com — U.S. crude stockpiles unexpectedly fell last week, the API reported Tuesday, adding to expectations that demand is on the rise ahead of the summer driving season.
, the U.S. benchmark, traded at $83.36 a barrel following the report after settling up at $83.36 a barrel.
fell by about 3.2 million barrels for the week ended Apr. 19, compared with an increase of 4.09M barrels reported by the API for the previous week. Economists were expecting an increase of 1.8M barrels.
The API data also showed that gasoline stockpiles fell by 595,000 barrels, while distillate inventories rose 724,000 barrels.
The report is due Wednesday.