By Mahmoud Gamal
Mubasher: U.S. oil inventories data came short of expectations, as it showed a decline last week, according to American Petroleum Institute (API).
Oil stockpile fell by around 5.6 million barrels in the week ended 1 January to reach 484 million barrels.
Oil inventories rose by nearly 2.6 million barrels in the week ended 25 December, 2015 to reach 489.6 million barrel.
Inventories data came short of expectations it would continue the increase by around 439,000 barrels, said Mohamed Al-Shatie, analyst, expecting oil prices to rise in Wednesday’s trading.
