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Feb. 19, 2020, 4:44 p.m. EST

API data reveal a weekly rise in U.S. crude supplies, but gasoline and distillate stocks decline, sources say

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By Myra P. Saefong

The American Petroleum Institute reported late Wednesday that U.S. crude supplies rose by 4.2 million barrels for the week ended Feb. 14, according to sources. The API data, which were delayed by a day because of Monday's Presidents Day holiday, also reportedly showed stockpile declines of 2.7 million barrels for gasoline and 2.6 million for distillates. Inventory data from the Energy Information Administration will be released Thursday. The EIA data are expected to show crude inventories rose by 3.3 million barrels last week, according to analysts polled by S&P Global Platts. They also forecast a supply climb of 300,000 barrels for gasoline, while distillate inventories are expected to decline by 1.6 million barrels. March West Texas Intermediate crude was at $53.55 a barrel in electronic trading, up from its settlement at $53.29 Wednesday on the New York Mercantile Exchange.

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