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

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HOUSTON, Jan. 28 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 4.3 million barrels of crude oil in the U.S. crude oil inventories for the week ending Jan. 24.

API reported an increase of 1.6 million barrels of crude oil inventories for the previous week ending Jan. 17, and the U.S. Energy Information Administration (EIA) reported a fall of 0.4 million barrels.

Oil prices rose on Tuesday as worries about global crude oversupply eased.

The West Texas Intermediate (WTI) for March delivery settled 0.34 U.S. dollar higher at 53.48 dollars a barrel on the New York Mercantile Exchange.

Brent crude for March delivery added 0.19 dollars to close at 59.51 dollars a barrel on the London ICE Futures Exchange. Enditem

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