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

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HOUSTON, March 30 (Xinhua) — The American Petroleum Institute (API) on Tuesday reported an increase of 3.910 million barrels of crude oil in the U.S. crude oil inventories for the week ending March 26.

API reported increase of 2.927 million barrels of crude oil inventories for the previous week ending March 19 while the U.S. Energy Information Administration (EIA) reported a rise of 1.9 million barrels.

Oil prices moved lower on Tuesday as investors were cautious ahead of a key meeting by major oil producers.

The West Texas Intermediate for May delivery lost 1.01 U.S. dollars to settle at 60.55 dollars a barrel on the New York Mercantile Exchange. Brent crude for May delivery decreased 84 cents to close at 64.14 dollars a barrel on the London ICE Futures Exchange. Enditem

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