U.S. crude oil futures fell from post-settlement levels Tuesday as the American Petroleum Institute reported an unexpected increase in weekly domestic crude inventories.
Crude Oil WTI Futures, the U.S. benchmark, recently traded at $63.08 a barrel following the report after settling at $63.17 barrel.
U.S. crude inventories increased by 1.5 million barrels for the week ended Aug. 2, compared with a draw of 4.2M barrels reported by the API for the previous week. That confounded expectations for a draw of 0.8M barrels.
The official government inventory report is due Wednesday at 10:30 a.m. EDT (1430 GMT).
