U.S. crude oil inventories up last week: API

 

The American Petroleum Institute (API) on Tuesday reported an increase of 3.034 million barrels of crude oil in U.S. inventories for the week ending April 5, Paralel.Az reports.

Analysts were expecting a hike of 2.415 million barrels for the week.

The API reported a decline of 2.286 million barrels in the previous week.

Oil prices fell on Tuesday. The West Texas Intermediate for May delivery decreased by 1.20 U.S. dollars, or 1.39 percent, to settle at 85.23 dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery dropped 96 cents, or 1.06 percent, to settle at 89.42 dollars a barrel on the London ICE Futures Exchange.

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