The American Petroleum Institute late Tuesday reported an increase in crude supplies of 10.5 million barrels for the week ended March 13, according to sources. Analysts surveyed by Platts forecast a crude-supply climb of 3.7 million barrels. Sources said the API reported that gasoline stockpiles fell by 583,000 barrels, while distillate inventories fell 252,000 barrels. Following the data, April crude was at $42.70 a barrel in electronic trading, down from the $43.46 close on Nymex. The more closely watched Energy Information Administration report is due Wednesday.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below