The American Petroleum Institute, an industry trade group, reported Tuesday afternoon that U.S. crude-oil inventories fell by 8.15 million barrels last week, according to a source who cited the data. API also saw gasoline inventories rose by 2.42 million barrels, while distillate supplies were up 428,000 barrels, the source said. Supplies at Cushing, Oklahoma, the delivery hub for New York Mercantile Exchange oil futures, were seen down 1.32 million barrels. Data from the Energy Information Administration is due Wednesday morning. Analysts surveyed by S&P Global Platts look for crude stocks, on average, to fall by 4.7 million barrels, while gasoline supplies are seen down by 700,000 barrels; distillate stocks were expected to rise by 100,000 barrels. Oil futures were trading above their closing level from earlier Tuesday, with August West Texas Intermediate crude changing hands at $73.45 a barrel in electronic trade, after finishing the regular session at $72.98.
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