AP News

Ahead of the Bell: Oil supplies expected to fall

NEW YORK (AP) — The Energy Department is expected to report on Wednesday that the nation's crude oil supplies dropped by 2 million barrels in the week ended Aug. 24, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Analysts expect gasoline supplies shrank by 2 million barrels as well, distillate stocks — which include diesel and heating fuel — were unchanged and refinery utilization fell by 0.25 percentage point at 90.95 percent of capacity.

The Energy Information Administration releases its weekly report at 10:30 a.m. EDT.

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