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U.S. crude hits three-month low; API reports smaller crude draw
July 25, 2016 10:08 PM EDTBy Barani Krishnan
NEW YORK (Reuters) - U.S. crude prices fell on Tuesday, hitting three-month lows, on renewed worries of a glut while Brent settled higher due to its better fundamentals versus U.S. crude.
Trade group American Petroleum Institute (API) said after the market's settlement that U.S. crude stockpiles fell by 827,000 barrels last week, compared with analysts' expectations for a drawdown of 2.3 million barrels. [API/S]
Official inventory data for the week ended July 22 is due on Wednesday from the U.S. Energy Information Administration (EIA). [EIA/S]
"The API data suggests... More
