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4/20, 10:31 PM (Source: TeleTrader)
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Reports: US crude oil stockpiles rise by 436,000 barrels

Crude oil inventories in the United States increased by 436,000 barrels in the week ending April 16 compared to the week before, data released by the American Petroleum Institute (API) reportedly showed on Tuesday. The market analysts expected a mild decrease. Oil reserves in Cushing, Oklahoma, allegedly declined by 1.3 million barrels.

Gasoline production in the country slid by 1.62 million barrels on a weekly basis, while distillate output gained 655,000 barrels from the previous week's figure.

Brent crude prices for June delivery dropped 0.98% to $66.5 per barrel at 4:28 pm ET. At the same time, West Texas Intermediate for May delivery lost 1.42% to go for $62.62 per barrel.

Breaking the News / BU