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

0 Comment(s)Print E-mail Xinhua, March 3, 2021
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HOUSTON, March 2 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 7.356 million barrels of crude oil in the U.S. crude oil inventories for the week ending Feb. 26.

API reported an increase of 1.026 million barrels of crude oil inventories for the previous week ending Feb. 19, while the U.S. Energy Information Administration (EIA) reported a rise of 1.3 million barrels.

Oil prices moved lower on Tuesday as market participants awaited a key meeting from major producers. The West Texas Intermediate for April delivery lost 89 cents to settle at 59.75 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery decreased 99 cents to close at 62.70 dollars a barrel on the London ICE Futures Exchange. Enditem

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