API data reportedly show a weekly rise in U.S. crude supplies

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The American Petroleum Institute reported late Tuesday that U.S. crude supplies rose by 1.9 million barrels for the week ended July 15, according to sources. The API data also reportedly showed a weekly inventory climb of 1.3 million barrels for gasoline and a supply decline of nearly 2.2 million barrels for distillates. Oil stocks at the Cushing, Okla., delivery hub were up by 523,000 barrels last week, sources said. Inventory data from the Energy Information Administration will be released on Wednesday. On average, analysts polled by S&P Global Commodity Insights said the EIA is expected to show weekly crude inventories…

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

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