SAN FRANCISCO (MarketWatch)
The American Petroleum Institute said late Wednesday inventories of crude oil declined 2.97 million barrels in the week ended Sept. 2.
The trade group also reported gasoline inventories down 871,000 barrels, and supplies of distillates up 3.95 million barrels.
The API's report comes a day later than usual due to the Labor Day holiday in the U.S. Investors await official numbers from the Department of Energy's Energy Information Administration due Thursday, also a day later than usual.
Analysts polled by Platts expect crude oil stocks to decline 1.7 million barrels, and gasoline stockpiles down 900,000 barrels.
Distillates stocks are seen up 600,000 barrels.
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