API Data Show Unexpected Fall In U.S. Crude Supply

The American Petroleum Institute late Tuesday reported an unexpected decline in crude supplies of 404,000 barrels for the week ended March 6, according to sources. Analysts surveyed by Platts forecast a crude-supply climb of 4.2 million barrels. Sources said the API reported that gasoline and distillate stockpiles each rose by 1.7 million barrels. Following the data, April crude was at $48.71 a barrel in electronic trading, up from the $48.29 close on Nymex. The more closely watched Energy Information Administration report is due Wednesday.