BUSINESS US crude oil inventories up last week: API

BUSINESS

US crude oil inventories up last week: API

Xinhua

10:10, November 27, 2019

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File photo: VCG

HOUSTON, Nov. 26 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a build of 3.639 million barrels of crude oil in the U.S. crude oil inventories for the week ending Friday.

API reported a build of 5.954 million barrels of crude oil inventories for the previous week ending Nov. 15, and the U.S. Energy Information Administration (EIA) reported an increase of 1.4 million barrels.

Oil prices rose on Tuesday as investors' sentiment was lifted by the latest progress in U.S.-China trade talks.

The West Texas Intermediate for January delivery increased 0.40 U.S. dollar to settle at 58.41 dollars a barrel on the New York Mercantile Exchange. Brent crude for January delivery rose 0.62 dollar to close at 64.27 dollars a barrel on the London ICE Futures Exchange.

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