Oil inventories drop 3 million barrels: API

SAN FRANCISCO (MarketWatch)
Crude-oil inventories fell by 3 million barrels in the latest week, the American Petroleum Institute said late Tuesday, ahead of a more closely watched report from the Energy Information Administration report on Thursday
The API also said gasoline stocks fell 1.4 million barrels in the week ending June 29
Distillate stocks fell 1.1 million barrels
Analysts polled by Platts forecast crude-oil inventories fell 2 million barrels last week, while gasoline stocks were unchanged and distillates rose 500,000 barrels
U.S. financial markets are closed Wednesday