API reported a decrease of 4.728 million barrels of crude oil inventories for the previous week ending July 23 while the U.S. Energy Information Administration (EIA) reported a fall of 4.1 million barrels.
Oil prices fell on Tuesday as concerns over weaker demand amid a resurgence of COVID-19 infections continued to weigh on the market.
The West Texas Intermediate for September delivery lost 70 cents to settle at 70.56 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery decreased 48 cents to close at 72.41 dollars a barrel on the London ICE Futures Exchange.
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