Oil supplies lower by 550,000 barrels: API

SAN FRANCISCO (MarketWatch)
Crude-oil inventories declined 550,000 barrels in the week ended June 15, the American Petroleum Institute said late Tuesday
The trade group also reported gasoline stockpiles up 1.1 million, and supplies of distillates down 269,000 barrels
The API report comes a day ahead of the Energy Information Administration's data
Analysts polled by Platts expect crude inventories to decline 600,000 barrels in the week