U.S. crude oil futures fell below post-settlement levels Tuesday after the American Petroleum Institute showed a unexpected massive increase in U.S. weekly crude supplies.
Crude Oil WTI Futures, the U.S. benchmark, recently traded at $60.41 a barrel following the report after settling down 0.80% lower at $60.56 barrel.
U.S. crude inventories fell by about 6.5M barrels for the week ended Oct. 28, confounding expectations for a draw of about 2.4M barrels.
Gasoline stockpiles decreased by about 5.7M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by about 2.5M barrels.
The official government inventory report is due Wednesday at 10:30 a.m. ET (1430 GMT).
