November 16, 2010 / 9:34 PM / 9 years ago

US crude pares losses, API data shows surprise draw

NEW YORK, Nov 16 (Reuters) - U.S. crude oil futures pared loses on Tuesday after industry data showed a surprise, heavy drawdown in domestic crude inventories last week.

In post-settlement trading on the New York Mercantile Exchange at 4:33 p.m. EST (2133 GMT), crude for December delivery CLZ0 was down $2.52 at $82.34 a barrel. Before release of the data, it had traded down $2.62 at $82.24.

The American Petroleum Institute said that for the week to Nov. 12, crude stocks fell 7.7 million barrels, against the forecast in a Reuters poll of analysts for a 100,000-barrel increase. [EIA/S] (Reporting by Gene Ramos)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below