API posts rise in crude, fall in gasoline stocks

SAN FRANCISCO (MarketWatch)
The American Petroleum Institute reported late Tuesday that crude-oil supplies rose by 6.6 million barrels for the week ended May 11
Gasoline inventories fell by 2.6 million barrels and distillate stocks declined by 1.6 million, the trade group said
The API data come ahead of the more closely-watched U.S. Energy Information Administration report due Wednesday morning
Analysts polled by Platts expect to see a 1.5 million-barrel climb in crude-oil stocks
They also forecast a 480,000-barrel decline in gasoline stocks and a 120,000 barrel rise in inventories of distillates