Economics
Oil Supply Drops in Survey on Pipeline Shutdown: Energy Markets
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U.S. crude supplies probably fell for a seventh week on the shutdown of the Trans Alaska pipeline and as a premium for Brent oil from the North Sea drew cargoes to Europe, a Bloomberg News survey showed.
Inventories dropped 500,000 barrels, or 0.2 percent, in the seven days ended Jan. 14 from 333.1 million a week earlier, according to the median of 17 analyst estimates before an Energy Department report tomorrow. Nine of the respondents forecast a decrease and eight projected a gain.