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API shows smaller-than-expected oil supply gain *PIC*

API shows smaller-than-expected oil supply gain (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute late Tuesday said crude-oil supplies rose 91,000 in the week ended March 11, significantly less than the 2.1-million-barrel rise analysts polled by Platts had expected. The API also reported gasoline stockpiles down 458,000 barrels, from expectations of a decline around 1.5 million barrels, and an increase of 531,000 in distillate stocks, compared to forecasts of a decline of 1.4 million barrels. The Department of Energy reports its more closely watched data Wednesday at 10:30 a.m. Eastern.

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API shows smaller-than-expected oil supply gain *PIC*