US oil futures little changed after API reports draw in crude inventories

U.S. crude oil futures were little changed from post-settlement levels Tuesday after the American Petroleum Institute reported a fall in domestic crude inventories.

Crude Oil WTI Futures, the U.S. benchmark, recently traded at $57.56 a barrel following the report after settling down 0.5% at $57.82 barrel.

U.S. crude inventories increased by about 2.9M barrels for the week ended Oct. 17, compared with a build of about 3.5M barrels reported by the API for the previous week.

Gasoline stockpiles decreased by 236,000 barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by about 974,000 barrels.

The official government inventory report is due Wednesday at 10:30 a.m. EDT (1430 GMT).

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