Sunday, 16 May 2021 12:10 GMT

Decline seen in U.S. crude oil inventories last week

( MENAFN ) On Tuesday, Apr. 13 the American Petroleum Institute (API) announced a decline of 3.608 million barrels of crude oil in the U.S. crude oil stockpiles for the week concluding April 9.

The U.S. Energy Information Administration (EIA) announced a decline of 3.5 million barrels of crude oil stockpiles for the prior week concluding April 2, whereas API announced a decrease of 2.618 million barrels.

On Tuesday, Apr. 13 oil prices jumped, enhanced by several tailwinds.

Brent crude for delivery of June rose 39 cents to settle at USD63.67 per barrel on the London ICE Futures Exchange. The West Texas Intermediate for delivery of May gained 48 cents to close at USD60.18 per barrel on the New York Mercantile Exchange.

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