Industry expects a rise in supplies during the latest week
By Nick Godt, MarketWatch
NEW YORK (MarketWatch) — Crude-oil futures fell Wednesday, while traders awaited supply data and worried about rising stockpiles.
Most other commodities declined in unison as the dollar rallied sharply against the yen. The U.S. currency jumped after Japan intervention in currency markets in six years to halt the rise of the yen.
Crude oil for October delivery fell $1.61, or 2.1%, to $75.20 a barrel at the New York Mercantile Exchange.
Commodities reacted little to reports that showed U.S. import prices rose 0.6% in August while a New York manufacturing index fell in September. Read more about the latest economic data.
On Tuesday, crude fell 0.5%. After the close of trading, the American Petroleum Institute estimated that crude-oil supplies rose 3.3 million barrels in the latest week.
The more widely followed estimate from the U.S. Energy Department will be released at 10.30 a.m. Eastern.
Analysts polled by Platts expect a decline of 2.25 million barrels in stockpiles of crude oil, a decline of 400,000 for gasoline inventories and an increase of 800,000 for distillates reserves.
