API data said to show weekly crude supplies up 6.3 million barrels

The American Petroleum Institute reported that crude supplies jumped by 6.3 million barrels for the week ended Nov. 6, according to sources late Tuesday. A Platts survey of analysts forecasted an increase of 500,000 barrels. Following the data, December crude was at $43.63 a barrel in electronic trading, down from the $44.21 settlement on Nymex. The more closely watched EIA report is due Thursday, a day late because of Wednesday’s Veterans Day holiday.

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