MW: Crude-oil futures dip ahead of inventory report
By Kate Gibson
NEW YORK (MarketWatch) -- Crude-oil futures on Wednesday retreated from a two-week high ahead of a Department of Energy inventory report later in the session. Crude for August delivery was off 57 cents at $76.58 a barrel in electronic trade on the New York Mercantile Exchange. The government report is slated for release at 10:30 a.m. Eastern, with analysts polled by Platts expecting a 2.6-million-barrel drop in commercial crude inventories last week. On Tuesday, the American Petroleum Institute reported U.S. stockpiles of crude, gasoline and distillate rose last week.
