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API shows smaller-than-expected supply increase

API shows smaller-than-expected supply increase (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil inventories increased by 1.2 million barrels in the week to April 8, the American Petroleum Institute reported late Tuesday. That compared to expectations of an increase of 1.6 million barrels, according to analysts polled by Platts. API also reported a decline of 4.6 million barrels for gasoline stockpiles, and a decline by 3.7 million barrels for distillates inventories. The analysts polled by Platts had expected a decline of 1.3 million for gasoline and unchanged inventories of distillates.

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API shows smaller-than-expected supply increase