Inventory: A government report due at 10:35 a.m. ET is expected to show a 2 million barrel increase in U.S. crude inventories, according to analysts polled by financial information firm Platts.
Rising crude stocks can indicate that refiners in the United States, the world's largest oil consumer, can adequately cover demand and may not need to purchase additional crude in the subsequent week. Last week the report showed crude stockpiles had spiked higher than expected, and helped drive prices lower.
Last week the government said that the U.S. consumed gasoline at a rate of 9 million barrels a day over the past four weeks, a 2.8% decline from the same period last year. - CNN Money News
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