American Petroleum Institute: Crude, gasoline, and distillate stockpiles rise

U.S. crude oil, gasoline, and distillate stockpiles posted a new increase in the week ending September 11, following trading on Tuesday.

Reuters, citing data from the American Petroleum Institute, reported that crude oil inventories rose by 7.1 million barrels in the referenced week.

It added that gasoline stocks increased by 1.5 million barrels, while distillate stockpiles rose by 1.6 million barrels compared to the previous week.

Oil prices rose by more than $3 on Tuesday, driven by concerns over the prolonged disruption of key oil supply routes in the Middle East.