U.S. crude oil futures slipped further in post-settlement trading on Tuesday after the American Petroleum Institute’s inventory data showed that domestic crude stocks fell less than expected last week. Phil Flynn, analyst at Alaron Trading in Chicago, stated: The API data shows imports were up and that tempered the crude draw, which came out lower [...]
Crude oil fell on Tuesday, snapping four days of gains, on concern a U.S. government report will show stockpiles climbed from the highest level since September 1990. Crude oil for June delivery declined as much as 77 cents, or 1.4 per cent, to $53.70 a barrel in electronic trading on the New York Mercantile Exchange. Oil is up 21 per cent this year.
Light sweet crude oil for May settlement surged to $52.17 per barrel, up $2.79 for the session. For full story, click here
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