The API is scheduled to release its data for last week at 4:30 p.m. EST (2130 GMT) on Tuesday, and the EIA report is due at 10:30 a.m. EST (1530 GMT) on Wednesday.

Brynne Kelly, of  TheFundamentalAngle.com and OppTrader team member and energy expert points out, there is a good chance of EIA being delayed a day since the holiday honoring Pres. Bush’s passing is slated for Wednesday.

Follow her on Twitter @BrynneKKelly

U.S. crude inventories probably fell 2.3 million barrels last week, according to a Reuters poll of analysts. U.S. refinery capacity is up 1,000 barrels per day. Exxon is delaying a restart at its Beaumont refinery. Crude prices are up 3 percent on expected supply cuts.

Predictably, Canada’s oil producers aren’t on board with Alberta’s mandated cuts. Other oil news items from Iran, Turkey, Brazil, Saudi Arabia and China. See data below.