Oil Settles Higher As Analysts Forecast a Weekly Decline In U.S. Crude Supplies

By Myra P. Saefong Markets MarketWatch Pulse

Oil prices settled higher Tuesday, getting a lift from expectations that U.S. government data set for release Wednesday will show an eighth weekly decline in a row for crude stockpiles. September West Texas Intermediate crude rose 27 cents, or 0.6%, to settle at $47.64 a barrel on the New York Mercantile Exchange on the contract's expiration day. The new front-month October contract tacked on 30 cents, or 0.6%, to settle at $47.83.

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