The American Petroleum Institute reported today in preliminary data that the US crude inventories fell 7.7 million barrels during the past week, while analysts forecaste a drop by 3.9 million barrels.

Gasoline stocks fell 5.3 million barrels, and the distillate stocks fell 3.5 million barrels.

While the Energy Information Administration will release its official report on Wednesday, which affects price movements.

Most US stock indices closed lower on Tuesday, weighed down by the tech sector, but Dow Jones managed to turn higher thanks to a rebound in oil prices.

Apple, Microsoft, Amazon, Tesla and Facebook have reported better-than-expected earnings in the first quarter of 2021.

Markets are still eyeing the latest developments regarding the pandemic, as India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

While countries like the US and several European countries started to ease the lockdown restrictions thanks to their success in containing the outbreak.

To the oil market, WTI crude June futures rose 1.9% or $1.20, and closed at $65.69 a barrel, after hitting a day high of $65.8 and a low of $64.2.

Brent June futures rose 1.9% or $1.32, and closed at $68.88 a barrel, after hitting a high of $69.04 and a low of $67.3.

As for stocks, Dow Jones rose 0.1% or 20 points, and closed at 34,133, with a day high of 34,147, and a low of 33,765.

Nasdaq fell 1.9% or 261 points to 13633, with a high of 13,795 and a low of 13485 points.

S&P 500 fell 0.7% or 28 points to 4,164, after hitting a high of 4,179 and a low of 4,128.

Silver prices fell on Tuesday, as the US dollar rose against most of its peers to a 2-week high amid focus on the corporates earnings results for the first quarter.

Markets are still eyeing the latest developments regarding the pandemic, as India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

While countries like the US and several European countries started to ease the lockdown restrictions thanks to their success in containing the outbreak.

The dollar index fell against a basket of currencies by 0.4% to 91.2 points as of 21:09 GMT, after it hit an intraday high and the highest level since April 22 at 91.3 points and the low at 90.8 points.

Silver July futures fell 1.5% or 40 cents, and closed at $26.56 an ounce.

US stock indices fell on Tuesday, led by the tech sector amid focus on the corporates earnings results for the first quarter.

Apple, Microsoft, Amazon, Tesla and Facebook have reported better-than-expected earnings in the first quarter of 2021.

Markets are still eyeing the latest developments regarding the pandemic, as India is still an exception to this, as it is now facing a sharp spike in the infection rate and deaths, while the health system is being overwhelmed.

As for stocks, Dow Jones fell 0.7% or 224 points to 33,889 as of 14:11 GMT, Nasdaq fell 2.1% or 291 points to 13,603, and S&P 500 fell 1.1% or 47 points to 4,145.