Oil futures little changed despite API reporting jump in crude stockpiles

Investing.com -- U.S. crude oil futures were roughly unchanged from post-settlement levels Tuesday despite the American Petroleum Institute reporting a large jump in weekly domestic crude stockpiles.

Crude Oil WTI Futures, the U.S. benchmark, recently traded at $71.18 a barrel following the report after settling down 0.4% at $71.20 a barrel.

U.S. crude inventories increased by 6.0M barrels for the week ended Mar. 28, compared with a draw of 4.6M barrels reported by the API for the previous week. Economists were expecting a build of just 1.2M barrels.

Gasoline stockpiles decreased by about 1.6M barrels, while distillate inventories -- the class of fuels that includes diesel and heating oil -- fell by 11,000 barrels.

The official government inventory report is due Wednesday at 10:30 a.m. ET (1530 GMT).

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