Commodities Buzz: Crude Supply Up Less Than Expected- API Data

Oil........

Crude-oil supplies

rose much less than the analysts expected for the week ended May 3, according to data from the American Petroleum Institute issued late Tuesday. Crude supplies rose 680,000 barrels, while a Platts survey of analysts showed a forecast for a 1.9 million-barrel climb. Gasoline inventories fell 186,000 barrels and distillate stockpiles rose by 1.1 million barrels. Analysts were looking for a decline of 750,000 barrels in gasoline inventories and a rise of 1 million barrels for distillate supplies. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday.

Source by Commodity Insights