U.S. Markets closed

Ahead of the Bell: Oil supplies expected to fall

NEW YORK (AP) -- The Energy Department is expected to report on Wednesday that the nation's crude oil supplies dropped by 2.6 million barrels in the week ended July 19, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Analysts estimate that gasoline supplies increased by 800,000 barrels, distillate stocks — which include diesel and heating fuel — grew by 1.9 million barrels and refinery utilization fell by 0.3 percentage point to 91.9 percent of capacity.

The Energy Information Administration releases its weekly report at 10:30 a.m. EDT.