API reported an increase of 4.577 million barrels of crude oil inventories for the previous week ending Oct. 23 while the U.S. Energy Information Administration (EIA) reported a rise of 4.3 million barrels.
Oil prices moved higher on Tuesday as risk-on mood returned to the market. The West Texas Intermediate (WTI) for December delivery rose 85 cents to settle at 37.66 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for January delivery increased 74 cents to close at 39.71 dollars a barrel on the London ICE Futures Exchange.
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