API oil supply report comes higher than expected (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Crude-oil stocks rose 3.77 million barrels on the week ended Jan. 28, the American Petroleum Institute said late Tuesday. That compares with expectations of an increase of 3 million barrels, according to analysts polled by Platts. Gasoline stockpiles rose 3.9 million, the trade group said. Gasoline was expected to rise 2 million barrels. Supplies of distillates declined 1.13 million, the API said, compared to expectations of a decline of 1.5 million barrels. Crude oil futures (CLH11) ended lower Tuesday, down $1.42 to $90.77 a barrel.