API data reportedly show a second straight weekly rise in U.S. crude supplies
The American Petroleum Institute reported that U.S. crude supplies rose by 907,000 barrels for the week ended Sept. 28, according to sources. The API data also showed supplies of gasoline declined by 1.7 million barrels and distillates fell by 1.2 million barrels, sources said. Supply data from the Energy Information Administration will be released Wednesday. Analysts polled by S&P Global Platts expect the EIA to report a climb of 2.76 million barrels in crude supplies. They also expect supply declines of 672,000 barrels in gasoline and 1.83 million barrels in distillates. November crude was at $75.06 a barrel in electronic trading, down a bit from the $75.23 settlement on the New York Mercantile Exchange.
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