Foreign news on May 16, data released by the American Petroleum Institute (API) on Tuesday showed that US crude oil inventories increased last week, while gasoline and distillate inventories decreased.
In the week ended May 12, crude oil inventories rose by about 3.6 million barrels, gasoline inventories fell by 2.5 million barrels and distillate inventories fell by 886,000 barrels.
Analysts had forecast that crude oil inventories were expected to fall by about 900,000 barrels last week, gasoline inventories fell by about 1.1 million barrels and distillate inventories rose by about 100,000 barrels.
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