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API Oil Inventories

Source: American Petroleum Institute

Crude oil supplies rose by 2.24 million barrels during the week ended Feb. 23, the

American Petroleum Institute

(API) reported Tuesday. The increase was lower than analysts were expecting, according to a

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poll, and takes on a bullish tone. Total supplies of crude oil now stand at 280.96 million barrels, a drop of 3.12 millon barrels compared to a year ago.

For the same period ended Feb. 23, distillate stocks (heating oil and diesel fuel) fell by 992,000 barrels, counter to an expected increase. Supplies are now at 115.24 million barrels, an 8.44 million-barrel surplus compared to a year ago.