Oil futures climbed in electronic trading late Tuesday after the American Petroleum Institute reported that crude supplies dropped 6.7 million barrels for the week ended June 5, according to sources. A Platts survey of analysts forecast a decline of 1.6 million barrels. In recent weeks, the API has reported increases in supplies as the Energy Information Administration reported declines. Following the data, July crude was at $60.52 a barrel in electronic trading, up from the $60.14 settlement on Nymex. The more closely watched EIA report is due Wednesday.
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