Mon, 28 Sep 2020

U.S. crude oil inventories down last week: API

Xinhua
05 Aug 2020, 07:59 GMT+10

HOUSTON, Aug. 4 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 8.587 million barrels of crude oil in the U.S. crude oil inventories for the week ending July 31.

API reported a decrease of 6.829 million barrels of crude oil inventories for the previous week ending July 24 while the U.S. Energy Information Administration reported a fall of 10.6 million barrels.

Oil prices climbed on Tuesday as market participants awaited data on U.S. crude stockpiles.

The West Texas Intermediate for September delivery rose 69 cents to settle at 41.70 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery climbed 28 cents to close at 44.43 dollars a barrel on the London ICE Futures Exchange.

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