The American Petroleum Institute (API) on Tuesday reported a decrease of 6.829 million barrels of crude oil in the U.S. crude oil inventories for the week ending July 24.
API reported an increase of 7.544 million barrels of crude oil inventories for the previous week ending July 17 while the U.S. Energy Information Administration (EIA) reported a rise of 4.9 million barrels.
Oil prices declined on Tuesday as rising coronavirus infections stoked fears over weaker crude demand.
The West Texas Intermediate (WTI) for September delivery fell 56 cents to settle at 41.04 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for September delivery lost 19 cents to close at 43.22 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
