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A man works on the rig of an oil drilling pump site in McKenzie County outside of Williston, North Dakota March 12, 2013. REUTERS/Shannon Stapleton

API states crude stocks gain 882,000 barrels, miss expected drop

Investing.com – U.S. crude inventories rose 882,000 barrels in the finish of a week ago, the American Oil Institute (API) stated on Tuesday, over a decline of two.3 million barrels seen and last week’s figure that demonstrated a 5.789 million barrels decline.

The API estimates are adopted by official figures in the Energy Information Administration on Wednesday.

Distillate stocks acquired 1.79 million barrels and gasoline supplies fell 1.78 million barrels. Supplies at Cushing, Oklahoma, fell by 540,000 barrels.

Analysts expected single.050 million barrels loss of distillates as well as an 731,000 barrels dip in gasoline supplies.

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