Investing.com - Crude oil inventories rose an unexpected 1.78 million barrels at the end of last week, the American Petroleum Institute (API) said late Tuesday, with the industry data often seen as an unreliable place-setter for official data later today.
Gasoline was reported as a draw of 4.8 million barrels following a build of 1.9 million barrels the previous week. Distillate registered a draw of 1.22 million barrels after a draw previously.
Analysts estimate the Energy Information Administration will report on Wednesday that crude oil inventories were down 2.9 million barrels in the past week, while distillates fell 225,000 barrels and gasoline stocks dipped 1.050 million barrels.