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

HOUSTON
2021-05-26 05:36

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HOUSTON, May 25 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 439,000 barrels of crude oil in the U.S. crude oil inventories for the week ending May 21.

API reported an increase of 620,000 barrels of crude oil inventories for the previous week ending May 14 while the U.S. Energy Information Administration reported a rise of 1.3 million barrels.

Oil prices edged higher on Tuesday, following pronounced gains in the prior session.

The West Texas Intermediate for July delivery added 2 cents to settle at 66.07 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 19 cents to close at 68.65 dollars a barrel on the London ICE Futures Exchange.
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