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

The American Petroleum Institute (API) on Tuesday reported an increase of 0.806 million barrels of crude oil in the U.S. crude oil inventories for the week ending July 16.

API reported a decrease of 4.079 million barrels of crude oil inventories for the previous week ending July 9 while the U.S. Energy Information Administration reported a fall of 7.9 million barrels.

Oil prices climbed on Tuesday, recouping some of the significant losses they had suffered in the prior session.

The West Texas Intermediate for August delivery added 1 U.S. dollar, or 1.5 percent, to settle at 67.42 dollars a barrel on the New York Mercantile Exchange. Brent crude for September delivery increased 73 cents, or 1.1 percent, to close at 69.32 dollars a barrel on the London ICE Futures Exchange.
source: Xinhua

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