API data reportedly show a weekly climb in U.S. crude and gasoline supplies

The American Petroleum Institute reported Tuesday that U.S. crude supplies rose by 933,000 barrels for the week ended Feb. 23, according to sources. The API data also showed a climb of 1.9 million barrels in gasoline stockpiles, while inventories of distillates saw a decline of 1.4 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts expect the EIA to report a climb of 2.1 million barrels for crude inventories. They also forecast declines of 200,000 barrels each for gasoline and distillate supplies. April crude was at $62.81 a barrel in electronic trading, down from the settlement of $63.01 on the New York Mercantile Exchange.

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