HOUSTON, May 22 (NNN-AGENCIES) – The American Petroleum Institute (API), on Tuesday, reported an increase of 2.4 million barrels in the U.S. crude oil inventories, for the week ending May 17.
In the previous week ending May 10, API reported an increase of 8.6 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA), reported a build of 5.4 million barrels for the same period.
EIA will release its data on crude oil inventories for the week ending May 17, on Wednesday (today), and the market expected it to decline by 599,000 barrels.
Oil prices settled mixed on Tuesday, as investors continued to monitor Middle East tensions and global trade prospects.
The West Texas Intermediate for June delivery declined 0.11 U.S. dollar, to settle at 62.99 dollars a barrel, on the New York Mercantile Exchange, while Brent crude for July delivery increased 0.21 dollar to close at 72.18 dollars a barrel, on the London ICE Futures Exchange.– NNN-AGENCIES
