SAN FRANCISCO (MarketWatch)
The American Petroleum Institute reported late Tuesday crude-oil inventories declined 5.05 million barrels for the week ended Sept. 9.
Gasoline stockpiles rose 2.8 million barrels, the trade group reported, while distillates inventories rose 67,000.
The API report comes ahead of the more closely watched data from the Energy Department's Energy Information Administration due Wednesday at 10:30 a.m. Eastern.
Analysts polled by Platts expected crude-oil stocks to decline 2.9 million barrels, gasoline stocks to go down 400,000 barrels, and distillates stocks to go up 1 million barrels
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The Energy Information Administration said Wednesday U.S. oil inventories declined 6.7 million barrels in the week ended Sept. 9. Analysts polled by Platts had expected a decline of 2.9 million barrels. Gasoline supplies added 1.9 million barrels, the EIA said, compared to expectations of a decline of 400,000. Distillates fuel inventories rose 1.7 million barrels, the EIA said. The analysts had seen them rising 1 million barrels.
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