Oil supplies down 5.4 million barrels: trade group

SAN FRANCISCO (MarketWatch)
Crude-oil supplies declined 5.4 million barrels in the week ended Aug. 3, a trade group reported late Tuesday
The American Petroleum Institute also said inventories of gasoline rose 417,000 barrels, while stockpiles of distillates rose 2.4 million barrels
The API report comes a day before data from the Energy Information Administration
Analysts polled by Platts have expected a decline of 300,000 barrels for crude stockpiles, as well as a retreat of 2 million barrels for gasoline supplies and an increase of 1 million barrels for distillates inventories