The American Petroleum Institute (API) on Tuesday reported a decrease of 4.8 million barrels of crude oil in the U.S. crude oil inventories for the week ending May 15.
The API reported an increase of 7.58 million barrels of crude oil inventories for the previous week ending May 8 while the U.S. Energy Information Administration reported a fall of 0.7 million barrels.
Oil prices settled mixed on Tuesday as market participants eyed signs of production cuts while weighing the possibility of a recovery in crude demand.
The West Texas Intermediate for June delivery increased 0.68 U.S. dollar to settle at 32.50 dollars a barrel on the New York Mercantile Exchange, while Brent crude for July delivery fell 0.16 dollar to close at 34.65 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
