U.S. crude stockpiles rose 1.2M barrels last week, API says

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The American Petroleum Institute reportedly shows a surprise build of 1.25M barrels of oil in U.S. commercial stockpiles for the week ending September 5.

Gasoline inventories reportedly show a build of 329K barrels for the week, and distillate inventories show a build of 1.5M barrels.

The Energy Information Administration will release its weekly U.S. petroleum supply report on Wednesday; the averages of analysts surveyed by _The Wall Street Journal_ forecast domestic commercial crude stocks fell by 1M barrels, gasoline inventories were expected to fall by 500K barrels, and distillate inventories were seen falling by 400K barrels.

WTI October crude oil (CL1:COM [https://seekingalpha.com/symbol/CL1:COM]) recently traded at $62.63/bbl, unchanged from its settlement price.

ETF: (NYSEARCA:USO [https://seekingalpha.com/symbol/USO])

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