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

  • World
  • Wednesday, 23 Sep 2020

HOUSTON, Sept. 22 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 691,000 barrels of crude oil in the U.S. crude oil inventories for the week ending Sept. 18.

API reported a decrease of 9.517 million barrels of crude oil inventories for the previous week ending Sept. 11 while the U.S. Energy Information Administration (EIA) reported a fall of 4.4 million barrels.

Oil prices rose on Tuesday. The West Texas Intermediate (WTI) for October delivery gained 29 cents to settle at 39.60 U.S. dollars a barrel on the New York Mercantile Exchange.

The October contract expired at the end of the Tuesday's session. The new front-month contract, November WTI crude, settled 26 cents higher at 39.80 dollars a barrel.

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