API Data Show U.S. Oil Supplies Up 1.5 Million Barrels: Sources

The American Petroleum Institute late Tuesday reported that crude supplies rose by 1.5 million barrels for the week ended March 11, according to sources who reviewed the report. The closely watched Energy Information Administration report will be released Wednesday. Analysts polled by Platts forecast a climb of 2.7 million barrels for crude inventories. April crude traded at $36.70 a barrel in electronic trading, up from the contract’s settlement of $36.34 on the New York Mercantile Exchange.