U.S. crude oil inventories decrease last week

Source: Xinhua | 2019-08-14

The American Petroleum Institute (API) on Tuesday reported a decrease of 2.19 million barrels in the U.S. crude oil inventories for the week ending Aug. 9.
In the previous week ending Aug. 2, API reported a decrease of 3.4 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a buildup of 2.39 million barrels for the same period.
Oil prices surged on Tuesday as investors' concerns over U.S.-China trade tensions eased.
The West Texas Intermediate (WTI) for September delivery added 2.17 U.S. dollars to settle at 57.1 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery rose 2.73 dollars to close at 61.3 dollars a barrel on the London ICE Futures Exchange.