US oil futures unchanged after API reports much larger increase in crude supplies

Investing.com -- U.S. crude oil futures were roughly unchanged in post-settlement trading Tuesday after the American Petroleum Institute reported a much larger-than-expected increase in weekly domestic inventories, though gasoline supplies ticked up.

Crude Oil WTI Futures , the U.S. benchmark, recently traded at $69.33 a barrel following the report after settling up 0.3% at $69.39 a barrel.

U.S. crude inventories rose by about 4.75M barrels for the week ended Nov. 15, compared with a draw of 777,000 barrels reported by the API for the previous week. Economists were expecting a build of just 800,000 barrels.

Gasoline stockpiles fell by about 2.48M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 688,000 barrels.

The official government inventory report is due Wednesday at 10:30 a.m. EST (1530 GMT).

Source: Investing.com