Decline witnessed in U.S. crude oil stockpiles
(MENAFN) A decline of 4.261 million barrels of crude oil in the U.S. crude oil stockpiles was announced by the American Petroleum Institute (API) on Tuesday, Feb. 2 for the week ending Jan. 29.
The U.S. Energy Information Administration announced a decline of 9.9 million barrels of crude oil stockpiles for last week concluding Jan. 22, whereas API announced a decline of 5.272 million barrels.
On Tuesday, oil prices climbed, expanding the earnings they registered in the previous session.
Brent crude for delivery of April climbed USD1.11 to settle at USD57.46 per barrel on the London ICE Futures Exchange. The West Texas Intermediate for delivery of March increased USD1.21 to close at USD54.76 per barrel on the New York Mercantile Exchange.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.