Industry News

U.S. crude oil inventories increase slightly last week

Source: Xinhua | 2018-08-29

The American Petroleum Institute (API) on Tuesday reported a build of 0.038 million barrels in the U.S. crude oil inventories for the week ending Aug. 24.

The institute reported a large draw of 5.17 million barrels in the oil inventories for the previous week.

Oil prices declined on Tuesday. The West Texas Intermediate (WTI) for October delivery fell 0.34 U.S. dollar to settle at 68.53 dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery lost 0.26 dollar to 75.95 dollars a barrel on the London ICE Futures Exchange.

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