U.S. crude oil inventories down last week: API

HOUSTON, Oct. 3 (Xinhua) — The American Petroleum Institute (API) announced on Tuesday that U.S. crude oil inventories decreased by 4.210 million barrels for the week ending Sept. 29.

According to analysts’ expectations, there was supposed to be a drop of 0.092 million barrels during this week.

In the previous week, the API had reported an increase of 1.586 million barrels.

Oil prices experienced a slight uptick on Tuesday, with the West Texas Intermediate for November delivery rising by 41 cents, or 0.46 percent. It settled at 89.23 U.S. dollars a barrel on the New York Mercantile Exchange.