API data reportedly show a 1.4 million-barrel decline in U.S. crude stocks
The American Petroleum Institute reported late Tuesday that U.S. crude supplies fell by 1.4 million barrels for the week ended July 12, according to sources. The API also reportedly showed a stockpile decline of 476,000 barrels for gasoline, but distillate inventories jumped by 6.2 million barrels. Inventory data from the Energy Information Administration will be released Wednesday. The EIA data are expected to show crude inventories down by 4.2 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast a fall of 1.5 million barrels for gasoline and an increase of 300,000 barrels for distillate supplies. August West Texas Intermediate crude was at $57.50 a barrel in electronic trading, down from the contract's $57.62 settlement on the New York Mercantile Exchange (http://www.marketwatch.com/story/oil-steadies-as-us-supply-worries-ease-2019-07-16).
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 16, 2019 16:40 ET (20:40 GMT)
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