Oil, gasoline, distillate supplies drop: API

SAN FRANCISCO (MarketWatch)
Crude-oil supplies fell 1.9 million barrels for the week ended Nov. 16, according to a report from the American Petroleum Institute late Tuesday
Distillate stocks also fell by 4.4 million barrels, while gasoline inventories dropped 4.8 million barrels last week, the report from the trade group said
The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday
Analysts polled by Platts expect a 1 million-barrel increase in crude-oil supplies
They also forecast a rise of 1.25 million barrels in gasoline inventories and a fall of 1 million barrels in distillate supplies
Ahead of the API data, January crude settled at $86.75 a barrel, down 2.8%