The American Petroleum Institute (API) on Tuesday reported an increase of 2.400 million barrels of crude oil in U.S. inventories for the week ending April 11.

Analysts had expected a drop of 1.680 million barrels for the week.

The API reported a decline of 1.057 million barrels in the previous week.

The API indicator shows how much oil and product is available in storage, offering an overview of U.S. petroleum demand.

Oil prices dipped on Tuesday. The West Texas Intermediate (WTI) for May delivery lost 20 cents, or 0.33 percent, to settle at 61.33 U.S. dollars a barrel on the New York Mercantile Exchange. Brent crude for June delivery decreased by 21 cents, or 0.32 percent, to settle at 64.67 dollars a barrel on the London ICE Futures Exchange.
Source: Xinhua