API Data Show U.S. Crude Supplies Up 1.3 Million Barrels

The American Petroleum Institute late Wednesday reported that crude supplies rose 1.3 million barrels for the week ended May 22, according to sources. Analysts surveyed by Platts forecast a 1.8 million-barrel decline. July crude was at $57.59 a barrel in electronic trading, compared with the $57.51 close on Nymex. The more closely watched Energy Information Administration report is due Thursday. Supply data were delayed by a day because of Monday's Memorial Day holiday.