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​U.S. oil inventories decrease last week

2018-05-23 10:37

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The American Petroleum Institute (API) Tuesday reported a draw of 1.3 million barrels to the U.S. crude oil inventories for the week ending May 18.

During the week from May 5 to May 11, the API reported a build of 4.85 million barrels of crude oil.

U.S. oil price decreased on Tuesday after rallying to the highest level in three years in the earlier session.

The West Texas Intermediate (WTI) for June delivery decreased 0.11 U.S. dollar to settle at 72.13 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery was up 0.35 dollar to close at 79.57 dollars a barrel on the London ICE Futures Exchange.

WTI crude futures went down slightly in late trading after hitting 72.83 dollars a barrel, its highest since November 2014, as geopolitical worries continued to support the market.
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