U.S crude supply up 4.4 million barrels: API
Posted: Fri May 31, 2013 2:57 amU.S crude supply up 4.4 million barrels: API
SAN FRANCISCO (MarketWatch) -- U.S. petroleum supplies unexpectedly rose across the board for the week ended May 24, according to data from the American Petroleum Institute issued late Wednesday. Crude supplies jumped 4.4 million barrels, while a Platts survey of analysts showed a forecast for a 1.5 million-barrel decline. Gasoline inventories climbed 1.9 million barrels and distillate stockpiles rose by 3.1 million barrels. Analysts were looking for a decline of 800,000 barrels in gasoline inventories and a fall of 600,000 barrels in distillate supplies. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Thursday. The reports were delayed by a day because of Monday's holiday. , the July futures contract for crude fell 2% to settle at $93.13 a barrel.
SAN FRANCISCO (MarketWatch) -- U.S. petroleum supplies unexpectedly rose across the board for the week ended May 24, according to data from the American Petroleum Institute issued late Wednesday. Crude supplies jumped 4.4 million barrels, while a Platts survey of analysts showed a forecast for a 1.5 million-barrel decline. Gasoline inventories climbed 1.9 million barrels and distillate stockpiles rose by 3.1 million barrels. Analysts were looking for a decline of 800,000 barrels in gasoline inventories and a fall of 600,000 barrels in distillate supplies. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Thursday. The reports were delayed by a day because of Monday's holiday. , the July futures contract for crude fell 2% to settle at $93.13 a barrel.