API Data Said To Show U.S. Crude Supply Down 7.3 Million Barrels

By Myra P. SaefongMarketWatch Pulse

The American Petroleum Institute late Tuesday reported that crude supplies dropped 7.3 million barrels for the week ended July 10, according to sources. Analysts surveyed by Platts forecast a 1.8 million-barrel decline. August crude was at $53.32 a barrel on Globex, up from the $53.04 settlement. The more closely watched Energy Information Administration report is due Wednesday.

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