Crude Oil Inventories Up Less Than Expected: API Report Crude-oil inventories up less than expected: API report
Published: Feb 10, 2015 4:56 p.m. ET
By MYRA P. SAEFONG
MARKETS/COMMODITIES REPORTER
SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute late Tuesday reported that crude supplies rose 1.6 million barrels for the week ended Feb. 6, according to sources. Analysts surveyed by Platts forecast a climb of 3.4 million barrels. Sources said the API reported gasoline stockpiles also rose by 1.6 million barrels, while distillate supplies rose 500,000 barrels. Analysts were looking for gasoline stockpiles to fall by 250,000 barrels and distillate supplies to fall by 1.3 million barrels. Following the data, March crude CLH5, +0.98% was at $51.02 a barrel in electronic trading, up from the $50.02 close on Nymex. The more closely watched Energy Information Administration report is due Wednesday.