Oil inventories decline 12 million barrels: API

SAN FRANCISCO (MarketWatch)
Crude weekly inventories declined 11.6 million barrels in the week ended July 27, the American Petroleum Institute said in a report late Tuesday
Analysts polled by Platts had expected inventories to decline 1.6 million barrels
Gasoline inventories declined 540,000 barrels, while stockpiles of distillates declined 1.3 million barrels, the API said