API Data Said To Show U.S. Crude Supplies Up 4.1 Million Barrels
The American Petroleum Institute late Tuesday reported that crude supplies rose by 4.1 million barrels for the week ended Oct. 23, according to sources. The API's previous report, covering the week ended Oct. 16, had shown a 7.1 million-barrel increase in crude stockpiles. December crude was at $43.46 a barrel in electronic trading, up from the contract’s settlement of $43.20 on the New York Mercantile Exchange. The more closely watched Energy Information Administration report is due Wednesday. Analysts polled by The Wall Street Journal expect the EIA to report that crude supplies rose 3.7 million barrels.
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