API reports growth in U.S. oil inventories

HOUSTON, Feb. 27 (Xinhua) -- The American Petroleum Institute (API) reported Tuesday an increase in U.S. oil inventories by around 933,000 barrels for the week ending Feb. 23.

Last week, API reported a dip of 907,000 million barrels of crude oil.

Crude oil prices slipped lower on Tuesday. On Tuesday afternoon, the West Texas Intermediate (WTI) and Brent, two major oil price benchmarks, went down by 1.89 percent and 1.52 percent to 62.70 U.S. dollars and 66.27 dollars a barrel respectively. Enditem