Crude oil futures end higher on Tuesday
API estimated that crude oil inventories in the United States fell by 4.4 million barrels in the week ending April 17
Crude oil futures ended higher on Tuesday amid uncertainty reigned over US-Iranian peace talks resuming, and the expiration of the two-week ceasefire in the Middle East loomed. Meanwhile, the American Petroleum Institute (API) estimated that crude oil inventories in the United States fell by 4.4 million barrels in the week ending April 17. In the week prior, US crude oil inventories rose by 6.10 million barrels.
Benchmark crude oil futures for June delivery rose by $2.25 or 2.57% to settle at $89.67 a barrel on the New York Mercantile Exchange. Brent crude for June delivery surged by $3.00 or 3.14% to settle at $98.48 a barrel on London's Intercontinental Exchange.
