API reported a decrease of 439,000 barrels of crude oil inventories for the previous week ending May 14 while the U.S. Energy Information Administration (EIA) reported a fall of 1.7 million barrels.
Oil prices advanced on Wednesday, bolstered by market confidence in the outlook for demand recovery.
The West Texas Intermediate for July delivery added 1.11 U.S. dollars to settle at 68.83 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for August delivery increased 1.1 dollars to close at 71.35 dollars a barrel on the London ICE Futures Exchange.
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