Beyond The Breakers Trading

The U.S. Energy Information Administration on Wednesday reported that domestic crude-oil supplies fell for the first time in 10 weeks. Supplies declined by 200,000 barrels for the week ended March 10.

The American Petroleum Institute late Tuesday reported a 531,000-barrel decline, while analysts polled by S&P Global Platts forecast a climb of 3.5 million barrels.

Gasoline supplies fell by 3.1 million barrels, while distillate stockpiles dropped 4.2 million barrels last week, according to the EIA. April crude CLJ7, +2.07% was up 78 cents, or 1.6%, to $48.50 a barrel on the New York Mercantile Exchange. It was trading at $48.70 before the …

The American Petroleum Institute (API) reported a build of 11.6 million barrels in United States crude inventories against expert predictions that domestic supplies would see a much kinder 1.4-million-to 1.66-million-barrel build.

The build in crude oil inventories was almost 10 times what analysts had predicted and marks yet another new high in U.S. inventories. The chart below displays a 10-week cumulative build of 35 million barrels, per API data, since the beginning of the year.

A few hours before the API data release, WTI and Brent benchmarks were both down despite Libya’s recent production woes, which were offset by Russia’s.

The U.S. Energy Information Administration on Wednesday reported an eighth straight weekly increase in domestic crude-oil supplies, but it was smaller than the market expected. Crude inventories rose by 1.5 million barrels for the week ended Feb. 24.

The American Petroleum Institute late Tuesday reported a 2.5 million-barrel climb, according to sources, while analysts polled by S&P Global Platts forecast a climb of 2.1 million barrels.

Gasoline supplies declined by 500,000 barrels, while distillate stockpiles fell 900,000 barrels last week, according to the EIA. April crude.