Sat, 31 Jul 2021

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

Xinhua
16 Jun 2021, 08:49 GMT+10

HOUSTON, June 15 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 8.537 million barrels of crude oil in the U.S. crude oil inventories for the week ending June 11.

API reported a decrease of 2.108 million barrels of crude oil inventories for the previous week ending June 4 while the U.S. Energy Information Administration (EIA) reported a fall of 5.2 million barrels.

Oil prices climbed on Tuesday, buoyed by positive sentiment on the market.

The West Texas Intermediate for July delivery added 1.24 U.S. dollars to settle at 72.12 dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery increased 1.13 dollars to close at 73.99 dollars a barrel on the London ICE Futures Exchange.

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