Tuesday, September 28, 2010

API Inventories

SAN FRANCISCO (MarketWatch) -- Crude-oil stocks fell 2.4 million barrels on the week ended Sept. 24, a report by the American Petroleum Institute showed Tuesday. The data also showed a surprise decline for distillate inventories, a 2.8 million drop. Gasoline inventories increased 3 million barrels. "The supportive crude oil and distillates numbers were offset to at least some extent" by the larger-than-expected build for gasoline stocks, Citigroup's Tim Evans said in a note to clients. More closely watched data from the Department of Energy is due 10:30 a.m. Wednesday. Analysts polled by Platts expect crude inventories to rise 2.2 million barrels, while gasoline stockpiles are seen adding 800,000 barrels and distillates gaining 400,000 barrels.

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