WORLD US crude oil inventories decrease last week: API

WORLD

US crude oil inventories decrease last week: API

Xinhua

11:14, August 22, 2018

The American Petroleum Institute (API) on Tuesday reported a large draw of 5.17 million barrels in the US crude oil inventories for the week ending Aug. 17.

VCG11480015687.jpg

File photos: VCG

The institute reported a build of 3.66 million barrels in the oil inventories for the previous week ending Aug. 10.

Meanwhile, US oil prices rose 1.4 percent on Tuesday on optimistic mood from capital market and weaker US dollars against main currencies. The West Texas Intermediate (WTI) for September delivery increased by $0.92 US dollar to settle at 67.35 dollars a barrel on the New York Mercantile Exchange.

International oil prices recorded growth for the fourth day in a row following significant drop in earlier days. Brent oil prices for delivery in October gained 0.58 percent with settlement price at $72.63 US dollars per barrel.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue