HOUSTON, Oct. 27 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported an increase of 4.577 million barrels of crude oil in the U.S. crude oil inventories for the week ending Oct. 23.
API reported an increase of 584,000 barrels of crude oil inventories for the previous week ending Oct. 16 while the U.S. Energy Information Administration reported a rise of 1.0 million barrels.
Oil prices rebounded on Tuesday, recouping some of the massive losses they suffered in the prior session, as a tropical storm threatened output in the U.S. Gulf of Mexico.
The West Texas Intermediate for December delivery gained 1.01 U.S. dollars to settle at 39.57 dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery increased 74 cents to close at 41.20 dollars a barrel on the London ICE Futures Exchange. Enditem
