US crude oil inventories decrease slightly

17 January, 2019 12:00 AM printer

HOUSTON: The American Petroleum Institute (API) on Tuesday reported a draw of 0.56 million barrels in the U.S. crude oil inventories for the week ending Jan. 11.

In the previous week ending Jan. 4, API reported a decrease of 6.27 million barrels in the U.S. crude oil inventories, reports Xinhua.

Oil prices rose on Tuesday as market sentiment was lifted by news that China might roll out further fiscal stimulus measures.

The West Texas Intermediate for February delivery rose 1.6 U.S. dollars to settle at 52.11 dollars a barrel on the New York Mercantile Exchange, while Brent crude for March delivery increased 1.39 dollars to close at 60.


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