EIA reports 6.9 MMbbl crude supply drop
SAN FRANCISCO (MarketWatch) -- Oil futures climbed shortly after a U.S. government report said crude supplies dropped nearly three times more than expected last week.
The Energy Information Administration (EIA) reported a 6.9 MMbbl fall in crude stockpiles for the week ended July 12. Analysts polled by Platts were looking for a 2.5 MMbbl decline. The American Petroleum Institute late Tuesday had reported a decline of 2.6 MMbbl.
Dow Jones Newswires