HOUSTON, May 11 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 2.533 million barrels of crude oil in the U.S. crude oil inventories for the week ending May 7.
API reported a decrease of 7.688 million barrels of crude oil inventories for the previous week ending April 30 while the U.S. Energy Information Administration (EIA) reported a fall of 8 million barrels.
Oil prices moved higher on Tuesday as traders followed updates on a vital U.S. fuel pipeline system.
The West Texas Intermediate for June delivery added 36 cents to settle at 65.28 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for July delivery increased 23 cents to close at 68.55 dollars a barrel on the London ICE Futures Exchange. Enditem
Go to Forum >>0 Comment(s)