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10/27/2020, 10:02 PM (Source: TeleTrader)
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US oil inventories up by 4.57 million barrels - report

Prices of oil rose on Tuesday after private data revealed a larger-than-expected growth in crude inventories in the United States, the biggest one since May.

According to data from the American Petroleum Institute (API), the country's oil stockpiles increased by 4.577 million barrels in the week ending October 23. The official figures on inventories are to be released later in the day by the US Energy Information Administration (EIA).

West Texas Intermediate (WTI) for settlements in December went up by 0.73% to sell for $38.92 per barrel at 4:45 pm ET. A minute later, Brent for December delivery advanced by 0.80% to go for $41.47 per barrel.

Breaking the News / JR