API Says Crude-oil Inventories Fell 847,000 Barrels: Reports

By MarketWatchMarketWatch Pulse

The American Petroleum Institute on Tuesday estimated that U.S. crude-oil inventories declined by 847,000 barrels last week, news reports said. The Energy Information Administration's more closely watched inventories report is due Wednesday. A survey of analysts by oil-data firm Platts produced a consensus forecast for a decline of 1.9 million barrels. Nymex oil futures on Tuesday posted their lowest settlement in more than six years after China devalued the yuan.

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