The data showed that crude stocks fell by 3.8 million barrels over the week ending June 24, while gasoline stocks rose by 2.9 million barrels.
Distillate stocks, which include diesel and heating oil, increased by about 2.6 million barrels.
The markets are awaiting the government data for oil stocks, which is scheduled to be issued today, Wednesday, and will cover the past two weeks together, after postponing the official figures last week due to computer software problems.
Recent data from the US Department of Energy showed that crude oil stocks in the US Strategic Petroleum Reserve fell by 6.9 million barrels during the week ending June 24, and crude stocks in emergency reserves fell to 497.9 million barrels, the lowest level since April 1986.
Oil prices rose for a third consecutive session on Tuesday, while major producers seemed unlikely to be able to bring about a significant increase in production, while Western governments agreed to explore ways to cap the price of Russian oil.
The global benchmark Brent crude contracts ended the trading session up $2.89, or 2.5 percent, to settle at $117.58 a barrel.
US West Texas Intermediate crude contracts rose $2.19, or 2 percent, to close at $111.76 a barrel.
Both benchmarks consolidated gains from the previous session, which amounted to about two percent, after the Group of Seven countries pledged to intensify the current Western pressure on Russia from sanctions over the Ukraine crisis.
#Petroleum #Institute #oil #stocks #fell #million #barrels #week
