MW: Crude supplies up 3.4 million barrels last week: API
By Polya Lesova
NEW YORK (MarketWatch) -- Crude-oil stocks rose by 3.4 million barrels during the week ended Dec. 5, American Petroleum Institute (API) reported Wednesday. In a separate report, the U.S. Energy Information Administration said that crude supplies rose by 400,000 barrels during the week. API also reported that total motor gasoline stocks rose by 5 million barrels last week and total distillate stocks increased by 3.7 million barrels. After the data, January crude futures were up 48 cents to $42.53 a barrel in electronic trading on Globex, giving up most of their early gains.
