6/25, 10:33 PM (Source: TeleTrader)
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Oil rises as US inventories show larger-than-expected draw

Oil traded higher on Tuesday after market close on Wall Street as private data from the API showed a draw in crude inventories in the United States that was larger-than-expected. Crude oil inventories declined by 7.55 million barrels compared to a fall of 812,000 barrels last week.

The Energy Information Administration is set to announce official data on US oil inventories on Wednesday.

West Texas Intermediate (WTI) futures due in August were 0.69% higher at $58.18 per barrel at 4:30 pm ET and international benchmark Brent increased 0.49% at 4:31 pm ET to go for $65.37 per barrel.

Breaking the News / VP