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The American Petroleum Institute is reportedly showing a build of 3.26 million barrels of oil for the week ending March 17.
Gasoline inventories reportedly show a withdrawal of 1.09 million barrels, distillate inventories show a withdrawal of 1.83 million barrels and reserves at the Cushing, Oklahoma storage facility show a draw of 757,000 barrels.
The US Energy Information Administration will release its weekly oil supply data on Wednesday, with analysts forecasting the report will show a 1.5 million-barrel draw in domestic crude supplies, a draw of 1 .4 million barrels for gasoline and an extraction of 1.3 million barrels in distillates. , according to a survey of The Wall Street Journal.
April WTI Crude Oil (CL1:COM) recently traded at $69.47/bbl after trading at $69.67/bbl on the New York Mercantile Exchange on Tuesday.
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