API data show rise in U.S. crude supply, drop in gasoline stockpiles: sources

The American Petroleum Institute reported Tuesday that U.S. crude supplies climbed by 6.2 million barrels for the week ended Sept. 8, while gasoline stockpiles dropped 7.9 million barrels, according to sources. The API data also showed that inventories of distillates edged down by 1.8 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 10.1 million barrels in crude inventories, along with declines of 4 million barrels for gasoline and 300,000 barrels for distillate supplies. October crude was at $48.41 a barrel in electronic trading, up from the settlement of $48.23 on the New York Mercantile Exchange.

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