Oil Futures End Higher On Expectations For Drop In Crude Inventories

By MarketWatchMarketsMarketWatch Pulse

Oil futures ended higher Tuesday, buoyed by expectations for a decline in weekly U.S. crude inventories. West Texas Intermediate crude for May delivery on the New York Mercantile Exchange rose 79 cents, or 1.6%, to close at $51.03 a barrel. The American Petroleum Institute, an industry group, is expected to release weekly inventory data later Tuesday, while more closely watched figures from the Energy Information Administration are due Wednesday morning.

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