API reports small crude supply increase (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Crude-oil inventories rose 163,000 barrels in the week to Feb. 18, the American Petroleum Institute said late Wednesday. Analysts polled by Platts had expected an increase by 1.4 million barrels. The Washington-based trade group also said gasoline supplies declined 1.6 million barrels, and stocks of distillates, which include heating oil and diesel, declined 534,000 barrels. The analysts had seen gasoline stocks up 950,000 barrels, and distillates stocks declining 1.7 million barrels. The Energy Information Administration reports its more closely watched data at 11 a.m. Thursday, a day later than usual due to Monday's Presidents Day holiday.