API data reportedly show a more than 2 million-barrel weekly fall in U.S. crude supplies

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The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 2.5 million barrels for the week ended Nov. 5, according to several sources. The API also showed inventory declines of 4.5 million barrels for gasoline and 3.3 million barrels for distillate stockpiles, two sources told MarketWatch. Crude stocks at the Cushing, Okla., storage hub, meanwhile, rose by 234,000 barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday. On average, the EIA is expected to show crude inventories up by 1 million barrels, according to a survey of…

This article was originally published by Marketwatch.com. Read the original article here.

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