Crude oil inventories rose 3.44 million barrels to 339.2 million last week, the American Petroleum Institute said.
The Energy Department is scheduled to release its inventory report tomorrow at 10:30 a.m. in Washington.
The government report may show stockpiles of crude oil rose 50,000 barrels last week, according to the median of 12 responses in a Bloomberg News survey. Gasoline inventories probably rose 1.45 million barrels, the survey showed. Distillates were expected to decline 1.25 million.
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.
Crude oil for January delivery rose $1.46, or 1.5 percent, to $99.67 a barrel at 4:31 p.m. in electronic trading on the New York Mercantile Exchange. The contract, which settled at $99.79, traded at $99.86 before the report was released at 4:30 p.m.
To contact the reporter on this story: Margot Habiby in Dallas at email@example.com
To contact the editor responsible for this story: Dan Stets at firstname.lastname@example.org