API data shows oil stocks down 5.2 mln barrels (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Crude-oil inventories declined 5.2 million barrels on the week ending July 15, the American Petroleum Institute said late Tuesday. Gasoline stockpiles added 2 million barrels, the trade group added. Supplies of distillates, which include heating oil and diesel, increased 1.1 million barrels. The API report comes ahead of the more closely watched data from the Department of Energy's Energy Information Administration due Wednesday at 10:30 a.m. Eastern. Analysts polled by Platts expect oil stocks to decline 1.3 million barrels, and gasoline stocks to decrease 450,000 barrels. Stocks of distillates are seen up 1.4 million barrels.