U.S. crude supply fell 3.1M barrels last week, API says

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• The American Petroleum Institute reportedly shows a draw of 3.1M barrels of oil for the week ending December 3.
• Gasoline inventories reportedly show a build of 3.7M barrels, distillate inventories show a build of 1.2M barrels and Cushing inventories show a build of 2.4M barrels.
• Data to be released tomorrow from the Energy Information Administration is expected to show crude inventories fell by 1.2M barrels last week, according to S&P Global Platts.
• December WTI crude oil (CL1:COM) recently traded at $71.71/bbl in electronic trading after settling today at $72.05/bbl.
• USO +0.4% after-hours.