API Data Show Oil Supplies Down 1.9 Million Barrels, According To Sources

By Myra P. SaefongMarketWatch Pulse

The American Petroleum Institute late Tuesday reported that crude supplies fell by 1.9 million barrels for the week ended Dec. 4, according to sources. Analysts polled by Platts forecast a decline of 1.2 million barrels. January crude was at $37.92 a barrel in electronic trading, up from the contract’s settlement of $37.51 on the New York Mercantile Exchange. The more closely-watched Energy Information Administration report is due Wednesday.

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