API data show U.S. crude-oil inventories down 3.1 million barrels last week: sources

api-data-show-us-crude-oil-inventories-down-3.1-million-barrels-last-week:-sources

The American Petroleum Institute, a trade group, reported Tuesday that U.S. crude-oil inventories fell 3.09 million barrels last week, according to sources, and gasoline supplies declined by 319,000 barrels, as distillate stocks fell by 716,000 barrels. Crude supplies in Cushing, Okla., the New York Mercantile Exchange delivery hub, were seen increasing by 1.594 million barrels. The Energy Information Administration will release official inventories data Wednesday morning. West Texas Intermediate crude for February delivery CLG22, +0.64% CL.1, +0.64% traded at $76.05 a barrel in electronic trade after settling Tuesday at $75.98.

Source: Marketwatch

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