Oil Futures Fall As Sources Say API Data Show U.S. Crude Supply Up 4.4 Mln Barrels

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures fell in electronic trading late Tuesday after the American Petroleum Institute reported a 4.4 million-barrel rise in U.S. crude supplies for the week ended Nov. 4, according to sources. Analysts polled by S&P Global Platts forecast a climb of 1.6 million barrels in stockpiles. Supply data from the Energy Information Administration will be released Wednesday. December crude was at $44.74 a barrel in electronic trading, down from the contract’s settlement of $44.98 on the New York Mercantile Exchange.

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