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

2019-06-12 12:58

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HOUSTON, June 11 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 4.850 million barrels in the U.S. crude oil inventories for the week ending June 7.

In the previous week ending May 31, API reported a decrease of 3.545 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a rise of 6.8 million barrels for the same period.

Oil prices were little changed on Tuesday as investors weighed weaker demand against possible output-cut deal extension.

The West Texas Intermediate for July delivery added 0.01 U.S. dollar to settle at 53.27 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery closed flat at 62.29 dollars a barrel on the London ICE Futures Exchange.
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