API data show that US crude oil supplies fall by more than 4 million barrels


The U.S. Petroleum Institute reported late Tuesday that U.S. oil supplies were down 4.3 million barrels a week ending March 18, according to sources. The API also showed weekly inventory declines of 626,000 barrels for gasoline and 826,000 barrels for distillates. Oil supplies in Cushing, Okla., The delivery center, rose 646,000 barrels last week, sources said. The inventory data of the Energy Information Administration will be published on Wednesday. On average, the EIA is expected to present unchanged gross inventory over the week, according to analysts surveyed by S&P Global Commodity Insights. The survey also showed expectations for weekly declines in supplies of 1.7 million barrels for gasoline and 1.4 million barrels for distillates. Oil prices have extended their losses during e-commerce following API data. Raw May West Texas Intermediate
+ 0.65%

Stood at $ 108.44 a barrel in e-commerce, After the settlement on Tuesday Priced at $ 109.27 at New York Mercantile.


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