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U.S. crude supplies jump over 5 MMbbl: API

SAN FRANCISCO – Crude oil supplies rose much more than forecast, and gasoline stockpiles unexpectedly climbed for the week ended April 5, according to data from the American Petroleum Institute issued late Tuesday. Crude supplies were up 5.1 MMbbl, while a Platts survey of analysts showed a forecast for a 1.4 MMbbl climb.

 The trade group also upwardly revised total stocks for the week ended March 29 by over 500,Mbbl. Gasoline inventories rose 1.96 MMbbl while distillate stockpiles fell by 1.3 MMbbl. Both compared with analyst forecasts for declines of 1.8 MMbbl. The API data come ahead of the more closely watched U.S. Energy Information Administration report due Wednesday

Dow Jones Newswires

04/09/2013

 

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