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Oil inventories fall 3 million barrels, API says

Oil inventories fall 3 million barrels, API says (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil inventories declined 3 million barrels in the week ended June 10, the American Petroleum Institute reported late Tuesday. Gasoline stockpiles rose 1.1 million barrels, the trade group said. Supplies of distillates declined 426,000 barrels. Investors are awaiting official word from the U.S. Department of Energy's Energy Information Administration, scheduled to report weekly inventories Wednesday at 10:30 a.m. Eastern. Analysts polled by Platts expect the EIA to show crude-oil stocks down 1.9 million barrels, gasoline stocks up 1.3 million barrels, and distillates stocks up 1.1 million barrels.

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Oil inventories fall 3 million barrels, API says