U.S. Oil Supplies Rise 10.2 Million Barrels, API Says

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Crude-oil inventories rose by 10.2 million barrels in the week ended Oct. 10, the American Petroleum Institute said late Wednesday, according to reports. Gasoline supplies declined by 3.1 million barrels, and inventories of distillates were down by 200,000 barrels. The API report comes a day ahead of more closely watched data from the Energy Information Administration due Thursday. Analysts polled by Platts expect the EIA to report a supply increase of 2.5 million barrels. Both reports were delayed by a day due to Monday's Columbus Day holiday. Oil on Wednesday closed at a fresh two-year low.

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