Oil Futures Rise As Sources Say API Data Show Surprise U.S. Crude Supply Decline

Oil futures climbed in electronic trading Tuesday from their settlement after the American Petroleum Institute reported a 3.8 million-barrel decline in U.S. crude supplies for the week ended Oct. 14, according to sources. Analysts polled by S&P Global Platts forecast an increase of 2.5 million barrels in stockpiles. Supply data from the Energy Information Administration will be released Wednesday. November crude was at $50.71 a barrel in electronic trading, up from the contract’s settlement of $50.29 on the New York Mercantile Exchange.