Crude oil inventories in US add 4.9M barrels last week: API

Oil Tanks

Crude oil inventories in the United States rose by 4.9 million barrels last week, contrary to expectations of a decrease of 1.5 million barrels, the American Petroleum Institute (API) data showed.

Gasoline stocks fell by 1.50 million barrels during the week ended April 26, while distillate stocks fell by about 2.2 million barrels.

Brent crude for June delivery (which expired on April 30) fell 0.6%, or 54 cents, to $87.86 per barrel.

WTI crude futures for June delivery fell 0.9%, or 70 cents, to $81.93 per barrel, recording losses of 1.5%.