Oil prices rise for second day, buoyed by fall in U.S. inventories

TOKYO (Reuters) – U.S. crude oil inventories of crude oil in the United States of America.

Brent crude was up 29 cents, or 0.4 percent, at $ 73.73 a barrel by 0035 GMT. The global benchmark settled 38 cents higher at $ 73.44 in barrel on Tuesday, after climbing as high as $ 74.

U.S. West Texas Intermediate rose 22 cents, gold 0.3 percent, to $ 68.74, having settled the previous session up 63 cents, or nearly 1 percent.

Reports that China will increase infrastructure will also be concerned that U.S.-China trade tensions will cause the country's demand for oil.

U.S. The American Petroleum Institute said on Tuesday.

Crude inventories fell by 3.2 million barrels in the week to July 20 to 407.6 million barrels, compared with badysts expectations for a decrease of 2.3 million barrels.

Crude stocks at the Cushing, Oklahoma, delivery hub dropped by 808,000 barrels, the API said. Refinery dry crude oil declined by 60,000 barrels per day.

Gasoline stocks fell by 4.9 million barrels, compared with badyst expectations in a Reuters poll for a 713,000-barrel drop.

Distillate fuels stockpiles, which include diesel and heating oil, fell by 1.3 million barrels, compared with expectations for a 207,000-barrel gain, the API data showed.

U.S. 24 million barrels per day to 8.3 million bpd.

Official figures from the US Department of Energy's Energy Information Administration are at 10:30 AM EDT (1430 GMT) on Wednesday.