The American Petroleum Institute late Tuesday reported that crude supplies fell by 1.9 million barrels for the week ended July 24, according to sources. Analysts surveyed by Platts forecast a 700,000-barrel decline. September crude was at $47.77 a barrel on Globex, down from the $47.98 settlement. The more closely watched Energy Information Administration report is due Wednesday.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
