API reports higher-than-expected 3.8 million-barrel weekly climb in U.S. crude supplies
The American Petroleum Institute late Tuesday reported that U.S. crude supplies rose by 3.8 million barrels for the week ended Nov. 20, according to sources. The data also showed gasoline stockpiles up by 1.3 million barrels, while distillate inventories fell by 1.8 million barrels. Crude stocks at the Cushing, Okla., storage hub, meanwhile, declined 1.4 million barrels for the week, sources said. Inventory data from the Energy Information Administration will be released Wednesday at 10:30 a.m. Eastern and gas inventories will be released at a noon, a day early due to the Thanksgiving holiday. December West Texas Intermediate crude was at $44.80 a barrel in electronic trading, up 4.1% but down from Tuesday's settlement at $44.91/bbl. on the New York Mercantile Exchange.
-Mark DeCambre; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
November 24, 2020 16:53 ET (21:53 GMT)
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