Oil prices drop after API data show weekly jump in crude supplies
Oil futures fell on Globex late Tuesday after the American Petroleum Institute reported that crude supplies jumped 7.6 million barrels for the week ended Aug. 28, according to sources. A Platts survey of analysts forecasted a decline of 800,000 barrels. Following the data, October crude was at $44.44 a barrel in electronic trading, down from the $45.41 settlement on Nymex. The more closely watched EIA report is due Wednesday.
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