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4/27, 10:34 PM (Source: TeleTrader)
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US oil inventories rise by 4.32 million barrels - report

United States crude inventories increased last week, private data showed on Tuesday. According to media reports, the American Petroleum Institute (API) said in its weekly report that US crude stockpiles jumped by 4.32 million barrels. Reserves in the industry hub in Cushing, Oklahoma, increased by 0.7 million barrels.

The report is also said to have shown a decrease of 1.29 million barrels in gasoline inventories and a 2.42 million drop in distillate stockpiles.

Oil prices rose after the report was released. Brent for June delivery grew by 1.43% to sell for $66.70 per barrel at 4:36 pm ET and West Texas Intermediate (WTI) for settlements in June gained 1.93% to go for $63.24 per barrel.

Breaking the News / LH