US oil inventories fell by 1.3 million barrels according to Alborsanews

The American Petroleum Institute said inventories fell by 1.3 million barrels in the week ending Dec. 23.

In its weekly report, the American Institute said gasoline inventories rose 510,000 barrels last week and distillate inventories rose 38,000 barrels.

Investors are awaiting the release of official inventories data from the US Energy Information Administration on Thursday amid expectations that crude inventories will decline by 1.2 million barrels.