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API shows surprise decline for oil inventories *PIC*

API shows surprise decline for oil inventories (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil inventories declined 354,000 barrels the week of Feb. 11, the American Petroleum Institute said late Tuesday. Analysts polled by Platts had expected oil stocks to increase 2.8 million barrels. Gasoline stocks rose 1.23 million barrels; they were seen rising 1.7 million barrels. Supplies of distillates, which include heating oil and diesel, declined 1.2 million barrels. The analysts surveyed had expected a decline of 1.1 million barrels. Crude-oil futures settled at $84.32 a barrel on Tuesday, an 11-week low.

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API shows surprise decline for oil inventories *PIC*