U.S. crude oil inventories increase last week: API

Source: Xinhua| 2019-05-15 10:08:25|Editor: ZX
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HOUSTON, May 14 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 8.6 million barrels in the U.S. crude oil inventories for the week ending May 10.

In the previous week ending May 3, API reported an increase of 2.806 million barrels of crude oil inventories, while the U.S. Energy Information Administration (EIA) reported a decrease of 100,000 barrels per day of crude oil inventories for the same period.

The U.S. Energy Information Administration will release its data on crude oil inventories for the week ending May 10 on Wednesday, and the market expected it to decline by 800,000 barrels.

Oil prices increased on Tuesday, as Saudi Arabia, one of the world's largest oil suppliers, said Tuesday that two of its oil pipeline booster stations were targeted by drone attacks.

The West Texas Intermediate for June delivery increased 0.74 U.S. dollar to settle at 61.78 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery rose 1.01 dollars to close at 71.24 dollars a barrel on the London ICE Futures Exchange.