U.S. crude oil inventories increase slightly last week: API
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E-mail Xinhua, September 5, 2019
HOUSTON, Sept. 4 (Xinhua) -- The American Petroleum Institute (API) on Wednesday reported a build of 0.4 million barrels in the U.S. crude oil inventories for the week ending Aug. 30.
API reported a sharp drop of 11.1 million barrels of crude oil inventories for the previous week ending Aug. 23, while the U.S. Energy Information Administration (EIA) reported a decrease of 10.0 million barrels.
Oil prices jumped Wednesday on positive economic data, in particular the economic performance of China.
The Caixin China General Services PMI, a private survey which released on Tuesday, showed that China's composite business activity growth improves to four-month high in August and total employment increases for the first time since April.
The West Texas Intermediate for October delivery increased 2.32 U.S. dollars to settle at 56.26 dollars a barrel on the New York Mercantile Exchange Wednesday, while Brent crude for November delivery rose 2.44 dollars to close at 60.70 dollars a barrel on the London ICE Futures Exchange. Enditem
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