The American Petroleum Institute (API) on Wednesday reported an increase of 2.97 million barrels of crude oil in the U.S. crude oil inventories for the week ending Sept. 4.
API reported a decrease of 6.36 million barrels of crude oil inventories for the previous week ending Aug. 28 while the U.S. Energy Information Administration (EIA) reported a fall of 9.4 million barrels.
Oil prices climbed on Wednesday as the market tried to recover from considerable losses in the prior session.
The West Texas Intermediate (WTI) for October delivery rose 1.29 U.S. dollars to settle at 38.05 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery climbed 1.01 dollars to 40.79 dollars a barrel on the London ICE Futures Exchange.
Editor:Cherie
