U.S. crude oil inventories decrease last week

Source: Xinhua | 2019-06-19

The American Petroleum Institute (API) on Tuesday reported a decrease of 812,000 barrels in the U.S. crude oil inventories for the week ending June 14.
In the previous week ending June 7, API reported an increase of 4.850 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a rise of 2.2 million barrels for the same period.
Oil prices bounced on Tuesday as market participants cheered at signs of easing trade tensions.
The West Texas Intermediate for July delivery rose 1.97 U.S. dollars to settle at 53.9 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery climbed 1.2 dollars to close at 62.14 dollars a barrel on the London ICE Futures Exchange.