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TFC Commodity Trading Forum

Oil supplies up 2.8 million barrels, API says *PIC*

Oil supplies up 2.8 million barrels, API says (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil inventories rose 2.8 million barrels in the week ended March 9, the American Petroleum Institute said late Tuesday. The trade group also reported gasoline stockpiles down 2.1 million barrels, while supplies of distillates declined 3.5 million barrels. Traders waited for official word on inventories due Wednesday. Analysts polled by Platts expect the U.S. Department of Energy's Energy Information Administration to report an increase of 2.1 million barrels for crude stockpiles, and to report gasoline supplies down 1.4 million barrels and distillates inventories down 1.5 million barrels.