Oil Futures Decline As U.S. Crude Supplies Climb

Oil futures fell Wednesday in electronic trade after a report showed weekly U.S. crude supplies rose by more than had been anticipated. Crude for November delivery fell 51 cents, or 0.5%, to $101.53 a barrel. Futures had turned lower late Tuesday after the American Petroleum Institute said supplies rose 4.5 million barrels for the week ended ended Sept. 27, according to sources.

Analysts polled by Platts had forecast a climb of 2.4 million barrels. Data from the U.S. Energy Information Administration was expected to be released later Wednesday as scheduled, with an official saying the government agency can operate through Oct. 11, according to Reuters.