Ahead of the Bell: Oil supplies expected to rise

Associated Press

NEW YORK (AP) — The Energy Department is expected to report on Wednesday that the nation's crude oil supplies grew by 500,000 barrels in the week ended Nov. 23, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

Analysts estimate that gasoline supplies increased by 1 million barrels, distillate stocks — which include diesel and heating fuel — decreased by 150,000 barrels and refinery utilization rose by 0.5 percentage point to 88 percent of capacity.

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

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