U.S. crude oil inventories down last week: API
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E-mail Xinhua, March 25, 2020
HOUSTON, March 24 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 1.25 million barrels of crude oil in the U.S. crude oil inventories for the week ending March 20.
The API reported a decrease of 421,000 barrels of crude oil inventories for the previous week ending March 13. The U.S. Energy Information Administration (EIA), however, reported a rise of 2 million barrels for the same week.
Oil prices climbed on Tuesday as the U.S. Federal Reserve's latest aggressive measures lent some support.
The West Texas Intermediate for May delivery increased 0.65 U.S. dollar to settle at 24.01 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery was up 0.12 dollar to close at 27.15 dollars a barrel on the London ICE Futures Exchange. Enditem
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