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

HOUSTON, March 31 (Xinhua) — The American Petroleum Institute (API) on Tuesday reported a large increase of 10.48 million barrels of crude oil in the U.S. crude oil inventories for the week ending March 27.

The API reported a decrease of 1.25 million barrels of crude oil inventories for the previous week ending March 20 while the U.S. Energy Information Administration reported a rise of 1.6 million barrels.

Oil prices settled mixed in volatile trading on Tuesday as traders continued to weigh potential coronavirus impact.

The West Texas Intermediate for May delivery increased 0.39 U.S. dollar to settle at 20.48 dollars a barrel on the New York Mercantile Exchange, while Brent crude for May delivery fell 0.02 dollar to close at 22.74 dollars a barrel on the London ICE Futures Exchange.

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