API U.S. Oil Inventories Show Larger-than-expected Rise: Reports

U.S. crude oil inventories rose by 8.9 million barrels in the week ended Feb. 20, the American Petroleum Institute said in its weekly tally, according to analysts and news reports on Tuesday. Analysts surveyed by Platts had forecast crude stocks to rise 3.7 million barrels. The trade group put total U.S. crude inventories at 437 million barrels. Distillates fell by 2.4 million barrels to 126.3 million, while gasoline stocks fell by 1.6 million to 229.7 million barrels, reports said. The Energy Information Administration's more closely-watched energy inventory report is due Wednesday morning.