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

2020-09-30 02:32:20 GMT2020-09-30 10:32:20(Beijing Time) Xinhua English

HOUSTON, Sept. 29 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported a decrease of 831,000 barrels of crude oil in the U.S. crude oil inventories for the week ending Sept. 25.

API reported an increase of 691,000 barrels of crude oil inventories for the previous week ending Sept. 18 while the U.S. Energy Information Administration (EIA) reported a fall of 1.6 million barrels.

Oil prices slipped on Tuesday as investors grew concerned about the prospect of crude demand amid the COVID-19 uncertainty.

The West Texas Intermediate (WTI) for November delivery sank 1.31 U.S. dollars to settle at 39.29 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery decreased 1.4 dollars to 41.03 dollars a barrel on the London ICE Futures Exchange. 

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