HOUSTON, April 8 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 1.057 million barrels of crude oil in U.S. inventories for the week ending April 4.
The API reported a surge of 6.037 million barrels in the previous week.
The API indicator shows how much oil and product are available in storage, offering an overview of U.S. petroleum demand.
Oil prices fell on Tuesday. The West Texas Intermediate for May delivery dropped 1.12 U.S. dollars, or 1.85 percent, to settle at 59.58 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased by 1.39 dollars, or 2.16 percent, to settle at 62.82 dollars a barrel on the London ICE Futures Exchange.
