American Petroleum Institute: Oil stocks fell by 4 million barrels
The American Petroleum Institute announced in unofficial preliminary data that oil inventories in the country fell by 3.8 million barrels last week.
Gasoline stocks rose by 2.9 million barrels, while distillate stocks rose by 2.6 million barrels.
On Wednesday, the Energy Information Administration will release official data that investors are watching and has a significant impact on crude price movements.
It is worth noting that Tuesday's session witnessed a rise in futures contracts for US "NYMEX" crude for August delivery by 2%, or the equivalent of $2.19, to $111.76 a barrel.
Brent crude futures for August delivery rose 2.5%, or $2.89, to $117.98 a barrel.