API data show U.S. crude inventories down 879,000 barrels: sources

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The American Petroleum Institute on Tuesday reported that U.S. crude inventories fell by 879,000 barrels last week, according to sources. Gasoline supplies were said to fall by 5.8 million barrels, while distillate inventories were down 717,000 barrels. The Energy Information Administration will release official data on Wednesday morning. Analysts surveyed by S&P Global Platts, on average, look for the EIA data to show crude inventories down by 4 million barrels last week. Gasoline stocks are expected to show a drop of 1.1 million barrels, while distillate supplies are seen down 600,000 barrels. September oil futures
CL00,
-0.34%
CLU21,
-0.34%
traded at $70.23 a barrel in electronic trade, down from a close of $70.56 a barrel earlier Tuesday.

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