U.S. crude oil inventories increase last week

The American Petroleum Institute (API) on Tuesday reported a build of 1.4 million barrels in the U.S. crude oil inventories for the week ending Sept. 20, reports Trend referring to Xinhuanet.com.

API reported an increase of 0.592 million barrels of crude oil inventories for the previous week ending Sept. 13, and the U.S. Energy Information Administration (EIA) reported an increase of 1.058 million barrels.

Oil prices declined on Tuesday as investors were concerned about weak demand outlook.

The West Texas Intermediate for November delivery decreased 1.35 U.S. dollars to settle at 57.29 dollars a barrel on the New York Mercantile Exchange, while Brent crude for November delivery erased 1.67 dollars to close at 63.1 dollars a barrel on the London ICE Futures Exchange.