API reported a decrease of 7.983 million barrels of crude oil inventories for the previous week ending July 2 while the U.S. Energy Information Administration (EIA) reported a fall of 6.9 million barrels.
Oil prices moved higher on Tuesday as market participants awaited data on U.S. crude stockpiles.
The West Texas Intermediate for August delivery added 1.15 U.S. dollars to settle at 75.25 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery increased 1.33 dollars to close at 76.49 dollars a barrel on the London ICE Futures Exchange.
Latest comments