API data show crude supply down 473,000 barrels

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- The American Petroleum Institute late Wednesday reported a decline of 473,000 barrels in crude supplies for the week ended Feb. 14, according to data from sources. The fall was unexpected as analysts surveyed by Platts had forecast a climb of 1.9 million barrels in crude supplies. Sources also said the API reported gasoline stockpiles rose 1.4 million barrels, while distillate supplies fell 676,000 barrels. Analysts were looking for gasoline supplies to decline 1.3 million barrels and distillate inventories to fall by 2 million barrels. Following the data, which was delayed by a day due to Monday s holiday, March crude was at $103.39 a barrel in electronic trading, up slightly from the $103.31 close on Nymex. The more closely watched Energy Information Administration report is due Thursday.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.