Oil cuts losses by the finish as traders await weekly data on U.S. supplies

Oil prices finished Tuesday with a modest decline, pressured by expectations that refinery shutdowns due to storm system Harvey will prompt a rise in U.S. crude supplies. Prices, however, pared much of their earlier losses as traders looked ahead to U.S. supply data due Wednesday from the Energy Information Administration covering the week ended Aug. 25. Analysts polled by S&P Global Platts expect the government to report a fall of 1.5 million barrels in crude stockpiles, along with drawdowns of 1.9 million and 600,000 barrels for gasoline and distillate inventories, respectively. October West Texas Intermediate crude fell 13 cents, or 0.3%, to settle at a more than one-month low of $46.44 a barrel on the New York Mercantile Exchange.

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