API data show crude supply down 4.1 mln barrels

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute late Tuesday reported a 4.1 million-barrel decline in crude supplies for the week ended Jan. 10, according to data from sources. Analysts surveyed by Platts had forecast a decline of 1.6 million barrels in crude supplies. Sources also said the API reported gasoline stockpiles jumped 5.4 million barrels, while distillate supplies fell 1.7 million barrels. Analysts were looking for gasoline supplies to rise by 1.7 million barrels and distillate inventories to climb by 1.3 million barrels. The API data come ahead of the more closely watched Energy Information Administration report due Wednesday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.