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


By Gao Lu
  • World
  • Wednesday, 09 Dec 2020

HOUSTON, Dec. 8 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 1.141 million barrels of crude oil in the U.S. crude oil inventories for the week ending Dec. 4.

API reported an increase of 4.146 million barrels of crude oil inventories for the previous week ending Nov. 27 while the U.S. Energy Information Administration (EIA) reported a fall of 0.7 million barrels.

Oil prices ended mixed on Tuesday, pressured by concerns about demand. The West Texas Intermediate for January delivery lost 16 cents to settle at 45.60 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for February delivery increased 5 cents to close at 48.84 dollars a barrel on the London ICE Futures Exchange.

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