Oil Futures Fall As API Data Show U.S. Crude Supply Up 4.7 Million Barrels: Sources

By Myra P. Saefong Markets MarketWatch Pulse

The American Petroleum Institute late Tuesday reported an unexpected climb of 4.7 million barrels in U.S. crude supplies for the week ended Dec. 9, according to sources. Analysts and traders polled by The Wall Street Journal forecast a stockpile decline of 1.7 million barrels, on average. Supply data from the Energy Information Administration will be released Wednesday morning. January crude was at $52.43 a barrel in electronic trading, down from the contract’s settlement of $52.98 on the New York Mercantile Exchange.

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