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Business

US crude oil inventories decrease last week: API

Houston, June 26 

The American Petroleum Institute (API) on Tuesday reported a sharp decrease of 7.55 million barrels in the US crude oil inventories for the week ending June 21.

In the previous week ending June 14, API reported a decrease of 8,12,000 barrels of crude oil inventories, while the US Energy Information Administration (EIA) reported a decline of 3.1 million barrels for the same period, the Xinhua news agency reported.

Oil prices posted mixed results on Tuesday, as investors kept a close eye on the heated spats between the US and Iran, which have weighed on global energy supply.

The West Texas Intermediate for August delivery decreased 0.07 US dollar to settle at 57.83 dollars a barrel on the New York Mercantile Exchange, while Brent crude for August delivery rose 0.19 dollar to close at 65.05 dollars a barrel on the London ICE Futures Exchange.