API reported a decrease of 831,000 barrels of crude oil inventories for the previous week ending Sept. 25 while the U.S. Energy Information Administration reported a fall of 2.0 million barrels.
Oil prices moved higher on Tuesday as a strike in the Norwegian oil and gas industry and a looming hurricane in the Gulf of Mexico caused production disruptions.
The West Texas Intermediate for November delivery climbed 1.45 U.S. dollars to settle at 40.67 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 1.36 dollars to 42.65 dollars a barrel on the London ICE Futures Exchange.
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