The American Petroleum Institute late Tuesday reported a climb of 4.5 million barrels in U.S. crude supplies for the week ended March 17, according to sources. The API data also showed a fall of 4.9 million barrels in gasoline supplies and a decline of 833,000 barrels in distillates, sources said. Supply data from the Energy Information Administration will be released Wednesday morning. Analysts polled by S&P Global Platts forecast an increase of 2 million barrels in crude inventories. May crude
was at $48.15 a barrel in electronic trading, down from the contract’s settlement of $48.24 on the New York Mercantile Exchange.