The American Petroleum Institute late Tuesday reported that crude supplies dropped 3.7 million barrels for the week ended Sept. 18, according to sources. Analysts polled by Platts forecast a decline of 700,000 barrels. November crude was at $46.60 a barrel on Globex, up from the contract’s settlement of $46.36 on the New York Mercantile Exchange. The more closely watched Energy Information Administration report is due Wednesday.
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