Oil futures little changes on mixed API report as weekly gasoline stocks climb

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Oil futures little changes on mixed API report as weekly gasoline stocks climb

Investing.com -- U.S. crude oil futures were slightly lower in post-settlement trading Tuesday after the American Petroleum Institute reported a mixed report amid a smaller than expected build in weekly domestic crude stocks, but an upside surprise in gasoline stocks.increased by about 180,000 barrels for the week ended Aug. 2, compared with a draw of 4.5M barrels reported by the API for the previous week. Economists were expecting a increase of 850,000 barrels.

The build in product inventories comes as the peak summer demand nears the end, with refiners usually slowing down for maintenance in the fall.Oil prices settled higher Tuesday, on fears of potential supply disruptions as markets braced for a potential retaliation from Iran against Israel following the recent killing of an Hamas leader in Tehran.

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