Ahead of the Bell: Oil supplies expected to rise

Analysts expect DOE to report US oil supplies grew, gasoline stockpiles fell last week

Associated Press

NEW YORK (AP) -- The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 300,000 barrels in the week ended May 10, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Analysts estimate that gasoline supplies shrank by 800,000 barrels, distillate stocks — which include diesel and heating fuel — grew by 800,000 barrels and refinery utilization rose by 0.4 percentage point to 87.4 percent of capacity.

The Energy Information Administration releases its weekly report at 10:30 a.m. EDT.

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