Oil Futures Fall As Sources Say API Data Show U.S. Crude Supply Up 9.3 Mln Barrels

By Myra P. SaefongMarketsMarketWatch Pulse

Oil futures dropped in electronic trading Tuesday after the American Petroleum Institute reported a 9.3 million-barrel climb in U.S. crude supplies for the week ended Oct. 28, according to sources. Analysts polled by S&P Global Platts forecast an increase of 1.9 million barrels in stockpiles. Supply data from the Energy Information Administration will be released Wednesday. December crude was at $46.33 a barrel in electronic trading, down from the contract’s settlement of $46.67 on the New York Mercantile Exchange.

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