API data said to show an unexpected 7.3 million-barrel drop in crude supplies
The American Petroleum Institute late Tuesday reported that crude supplies dropped 7.3 million barrels for the week ended August 21, according to sources. Analysts polled by Platts forecast an increase of 1.9 million barrels. October crude was at $39.41 a barrel on Globex, up from the $39.31 settlement. The more closely watched Energy Information Administration report is due Wednesday.
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