API Data Show Oil Supplies Up 2.4 Million Barrels: Sources

By Markets MarketWatch Pulse

The American Petroleum Institute late Tuesday reported that crude supplies rose by 2.4 million barrels for the week ended Feb. 5, according to sources who reviewed the report. That was smaller than the climb of 3.2 million barrels expected by analysts polled by Platts. March crude was at $28.32 a barrel in electronic trading, up from the contract’s settlement of $27.94 on the New York Mercantile Exchange. The more closely-watched Energy Information Administration report is due Wednesday.

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