API data shows big rise in crude-oil supplies

SAN FRANCISCO (MarketWatch)
The American Petroleum Institute reported late Tuesday that crude-oil supplies climbed by 7.3 million barrels for the week ended Jan. 20
Gasoline inventories fell by 573,000 barrels, while distillate inventories dropped 2.5 million barrels, the trade group said
Analysts polled by Platts expect separate reports from the API and the Energy Information Administration to show that crude stockpiles rose by 700,000 barrels last week
They also expect to see an increase in gasoline of 2.2 million barrels and a decrease of 300,000 barrels for distillates
The API's figures come ahead of Wednesday's more closely-watched EIA report