SINGAPORE, APRIL 26: Crude oil prices showed a downward trend today as data showed an increase in the United States (US) crude oil inventories and supply around the world.
It casts doubt on the ability of the Organization of Petroleum Exporting Countries (OPEC) to reduce the supply and tighten the market, reports Reuters.
US crude oil, West Texas Intermediate (WTI) traded at US $ 49.32 a barrel at 0052 GMT, decrease 24 cents or 0.5 per cent compared with the previous session.
Dealers said a report late on Tuesday by the American Petroleum Institute (API) showed that the US crude oil inventories rose by 897,000 barrels for the week until April 21 to 532.5 million barrels.
Brent crude oil stood at US $ 51.88 a barrel, decrease 22 cents or 0.4 per cent from the previous close.
