MW : Oil futures fall as API data show rising supplies
NEW YORK (MarketWatch) -- Oil futures fell early Wednesday after the American Petroleum Institute reported that crude inventories rose last week. Crude oil for October delivery was last down 53 cents to $71.53 a barrel in electronic trading on Globex. The API said late Tuesday that crude supplies rose by 4.3 million barrels last week, according to media reports. The Energy Information Administration is due to release its more closely watched report on Wednesday morning, with analysts surveyed by Platts expecting a drop of 2.7 million barrels in crude inventories in the week ended Aug. 21.
