Gasoline inventories climbed 1.49 million barrels to 212.7 million, the API said. The Energy Department report may show a 900,000-barrel increase for the fuel, the survey showed.
Oil-supply totals from the API and the Energy Department have moved in the same direction 72 percent of the time over the past year. API collects stockpile information on a voluntary basis from operators of refineries, bulk terminals and pipelines. The government requires that reports be filed with the Energy Department for its weekly survey.
Economists in a Bloomberg News survey project a government report tomorrow may show payroll gains weakened in May, raising the risk that consumers will curb spending, the biggest part of the economy.
The Organization of Petroleum Exporting Countries is likely to keep production levels steady when it meets next week, according to a Bloomberg survey. For the latest updates PRESS CTR + D or visit Stock Market news Today
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