The American Petroleum Institute on Tuesday announced that US crude oil inventories fell 6.024 million barrels last week, according to many sources as well as supply reports.

The American Petroleum Institute also said that gasoline stocks fell 3.135 million barrels.

Oil reserves at Cushing, Oklahoma, the New York oil trading center, were announced to drop 1.449 million barrels.

The US Energy Information Administration (EIA) will release more information on oil reserves on Wednesday. Experts surveyed by the Wall Street Journal said that oil reserves fell by 2.1 million barrels.

Energy director at Mizuho Securities, Robert Yawger, said crude oil is waiting for information from trade negotiations, which could help boost oil demand, in addition to oil developments. Rough waiting for Fed to lower interest rates.

Closing the session on Tuesday, WTI light sweet crude oil delivered in September 2019 increased by 1.18 USD / barrel equivalent to 2.1% to 58.05 USD / barrel. WTI oil price increased by 1.2% on Monday session.

Meanwhile, Brent crude oil futures for October 2019 increased by US $ 1.01 / barrel equivalent to 1.6% to US $ 64.63 / barrel.

The Fed is expected to be willing to lower interest rates, estimated at 25 basis points by the end of the policy meeting on Wednesday. The move from the Fed will be able to support crude oil prices, though the most important factor affecting crude oil will be the weak dollar.