API Reports Crude Supplies Up 3.7 Million Barrels

The American Petroleum Institute late Tuesday reported U.S. crude stocks rose by 3.7 million barrels in the week ended Nov. 14, according to reports. The trade group's data comes a day ahead of a more closely watched report from the Energy Information Administration. Analysts polled by Platts expect the EIA to report a decline of 660,000 barrels of crude for the week. The analysts surveyed by Platts expect gasoline supplies to rise by 600,000 barrels, and stockpiles of distillates to decline by 1.2 million barrels.