5/24, 10:33 PM (Source: TeleTrader)
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US oil inventories up by 567,000 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 rose by 567,000 barrels in the week ending May 20.

Reserves in Cushing, Oklahoma, allegedly slid by 731,000 barrels. Gasoline stockpiles dropped by 4.2 million barrels, while distillate inventories decreased by 949,000 barrels, according to the reported data.

West Texas Intermediate for July deliveries slipped 0.7% to $109.86 per barrel at 4:24 pm ET, while Brent for settlements in the same month added 0.06% to go for $113.54 per barrel a minute later.

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