Oil settles up; extends gains as API reports U.S. crude draw

By Barani Krishnan NEW YORK (Reuters) - Oil prices settled up on Tuesday on expectations of OPEC output curbs, then extended gains in post-settlement trade as an industry group's data showed an unexpected draw in U.S. crude inventories last week. Crude stockpiles fell 3.8 million barrels in the week to Oct. 14, the American Petroleum Institute reported. The U.S. government's Energy Information Administration (EIA) will issue official inventory numbers on Wednesday.