API Data Show U.S. Crude Supplies Up 1.9 Million Barrels: Sources

The American Petroleum Institute late Tuesday reported a rise of 1.9 million barrels in U.S. crude supplies for the week ended March 24, according to sources. The API data also showed a decline of 1.1 million barrels in gasoline supplies and a fall of 2.0 million barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast an increase of 300,000 barrels in crude inventories. May crude was at $48.37 a barrel in electronic trading, unchanged from the contract’s settlement on the New York Mercantile Exchange.