The American Petroleum Institute reported Tuesday that U.S. crude supplies rose 5.7 million barrels for the week ended March 2, according to sources. The API data also showed a decline of 4.5 million barrels in gasoline stockpiles, while inventories of distillates saw a climb of 1.5 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 2.5 million barrels for crude inventories. They also forecast declines of 500,000 barrels for gasoline and 1.6 million barrels for distillate supplies. April crude was at $62.30 a barrel in electronic trading, down from the settlement of $62.60 on the New York Mercantile Exchange.
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