U.S. oil inventories rise as price ends higher

HOUSTON, April 10 (Xinhua) -- The American Petroleum Institute (API) on Tuesday reported that U.S. crude inventories rose by roughly 1.8 million barrels for the week ending on April 6.

API data also showed a rise of 2 million barrels in gasoline stockpiles, while inventories of distillates decreased 3.8 million barrels, sources said.

Meanwhile, oil prices rose on Tuesday as the trade tensions between China and the United States showed further signs of easing.

The West Texas Intermediate (WTI) for May delivery rose 2.09 U.S. dollars to settle at 65.51 dollars a barrel on the New York Mercantile Exchange, while Brent crude for June delivery added 2.39 dollars to close at 71.04 dollars a barrel on the London ICE Futures Exchange.

Last week, the API reported a draw of 3.28 million barrels of U.S. crude oil inventories for the week ending March 30, far more than 1 million barrels as expected, demonstrating weak demand and bearish for crude prices in the week ending March 23. Enditem