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The American Petroleum Institute reportedly shows a build of 3.03M barrels of oil in U.S. commercial stockpiles for the week ending April 5.
Gasoline inventories reportedly show a draw of 609K barrels for the week, distillate inventories show a build of 120K barrels, and stockpiles at the Cushing, Oklahoma, storage hub show a build of 124K barrels.
The Energy Information Administration will release its weekly U.S. petroleum supply report Wednesday morning; on average, analysts forecast the report will show an increase of 800K barrels in commercial crude oil stockpiles, a decrease of 1.4M barrels in gasoline inventories, and a decrease of 600K barrels in distillate stocks, according to consensus estimates from a survey by The Wall Street Journal.
May WTI crude oil (CL1:COM) recently traded at $85.34/bbl after settling Tuesday at $85.23/bbl.
ETF: (NYSEARCA:USO)
Read More: U.S. crude stockpiles rose 3M barrels last week, API says (NYSEARCA:USO)