Oil futures dips on mixed API report as weekly gasoline stocks climb

Investing.com -- U.S. crude oil futures were slightly lower in post-settlement trading Wednesday after the American Petroleum Institute reported an unexpected fall in weekly domestic inventories, though gasoline supplies ticked up.

Crude Oil WTI Futures , the U.S. benchmark, recently traded at $68.06 a barrel following the report after settling up at $68.43 a barrel.

U.S. crude inventories fell by about 777,000 barrels for the week ended Nov. 8, compared with a build of 3.1 barrels reported by the API for the previous week. Economists were expecting a build of about 1M barrels.

Gasoline stockpiles rise by about 312,000 barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- increased by 1.1M barrels.

The official government inventory report is due Thursday at 10:30 a.m. EST (1530 GMT).

Source: Investing.com