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

0 Comment(s)Print E-mail Xinhua, October 9, 2019
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HOUSTON, Oct. 8 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a build of 4.1 million barrels in the U.S. crude oil inventories for the week ending Oct. 4.

API reported a draw of 5.9 million barrels of crude oil inventories for the previous week ending Sept. 27, and the U.S. Energy Information Administration (EIA) reported an increase of 3.1 million barrels.

Oil prices declined moderately on Tuesday, as the U.S. Energy Information Administration (EIA) cut its forecast for global oil demand growth for both 2019 and 2020.

The West Texas Intermediate for November delivery lost 0.12 U.S. dollar to settle at 52.63 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery dipped 0.11 dollar to close at 58.24 dollars a barrel on the London ICE Futures Exchange. Enditem

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