(MENAFN) On Tuesday, Aug. 3 the American Petroleum Institute (API) announced a decline of 0.879 million barrels of crude oil in the U.S. crude oil stockpiles for the week concluding July 30.
The U.S. Energy Information Administration (EIA) announced a decline of 4.1 million barrels, whereas API announced a fall of 4.728 million barrels of crude oil stockpiles for the prior week concluded July 23.
Oil prices decreased on Tuesday as worries over weaker demand amidst a resurgence of coronavirus cases kept weighing on the market.
Brent crude for delivery of October fell 48 cents to settle at USD72.41 per barrel on the London ICE Futures Exchange. The West Texas Intermediate for delivery of September decreased 70 cents to close at USD70.56 per barrel on the New York Mercantile Exchange.
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