By Yasin Ebrahim
Investing.com – U.S. oil stockpiles rose last week, adding to concerns that rising Covid-19 cases and the ensuing lockdowns are beginning to weigh on crude demand.
rose by 584,000 barrels last week, according to an estimate released Tuesday by the American Petroleum Institute, after a draw of 5.4 million barrels the previous week.
, the U.S. benchmark for oil, rose 0.73% after settling 1.54% higher at $41.46 a barrel.
The build comes a day ahead of the official government report expected to show weekly U.S. crude supplies fell by 1.021 million barrels last week.
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