API Weekly Crude Oil Inventories Fall: Reports

The American Petroleum Institute, an industry trade group, on Tuesday reported that U.S. inventories of crude oil fell by 4.3 million barrels in the latest week, according to news reports. The API data is closely watched for clues to official data, which will be released Wednesday morning by the Energy Information Administration. Analysts surveyed by oil-data firm Platts have forecast a 2.9 million barrel rise in inventories.