Oil Prices Cut Their Losses Ahead Of U.S. Supply Data

By Myra P. SaefongMarketsMarketWatch Pulse

Oil prices finished a few cents lower Tuesday, giving up the bulk of their earlier losses. Concerns over growing U.S. shale-oil production weighed on the market, but prices found some support from the latest U.S. crude-supply forecasts. Analysts expect Wednesday's Energy Information Administration report to show a seventh-straight weekly decline for U.S. crude inventories. September West Texas Intermediate crude fell 4 cents, or less than 0.1%, to settle at $47.55 a barrel on the New York Mercantile Exchange.

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