The American Petroleum Institute (API) on Tuesday reported a decrease of 4.4 million barrels of crude oil in the U.S. crude oil inventories for the week ending Aug. 7.
API reported a decrease of 8.587 million barrels of crude oil inventories for the previous week ending July 31 while the U.S. Energy Information Administration (EIA) reported a fall of 7.4 million barrels.
Oil prices declined on Tuesday. The West Texas Intermediate (WTI) for September delivery lost 33 cents to settle at 41.61 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for October delivery fell 49 cents to close at 44.50 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
