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NYMEX crude up in Asia on API data

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Investing.com -

Investing.com - Crude oil prices gained in Asia on Wednesday after slightly bullish industry data on U.S. stocks.

The American Petroleum Institute, an industry group, put out its own data late Tuesday ahead of the EIA report showing a 1.4-million-barrel decline in crude-oil supplies, according to industry sources. The group also said that gasoline supplies rose by 800,000 barrels and distillate stocks declined by 300,000 barrels, according to the sources.

On the New York Mercantile Exchange, U.S. Crude Oil for delivery in July traded at $102.91 a barrel, up 0.24%, after hitting $102.10 on Monday, the lowest since May 20, before settling at $102.47, down 0.23%, or 24 cents.

Brent Oil on ICE Futures Europe also rallied late to settle up 0.2 cent, or 0.02%, to $108.85 a barrel on Tuesday.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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