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Crude Inventories Unexpectedly Gain - Futures Firm in After-Hours Despite Data

Crude oil inventories rose 2.6 million barrels on the week ended Sept. 16, the American Petroleum Institute says, according to news reports.

Inventories of gasoline added 62,000 barrels, the trade group said, while supplies of distillates rose 81,000 barrels.

The API report comes ahead of the more closely watched official data from the Energy Information Administration, due out Wednesday at 10:30 a.m. ET. Platts expects the report to show a decline between 1 and 2 million barrels of crude.

Light, sweet crude for November delivery finished trading today up 1.4% to $86.89 a barrel. In other energy futures, heating oil was down 2.2% to $2.94 a gallon while natural gas was up 0.81% to $3.84 per million British thermal units.

In after-hours trading, November crude is up 65 cents or 0.8% at $86.46 a barrel.

United States Oil Fund is up 0.2% at 33.48.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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