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EIA reports bigger-than-expected crude supply rise

SAN FRANCISCO -- Oil futures continued to trade lower Wednesday after the U.S. Energy Information Administration reported a climb in crude supplies that was about double market expectations. Crude supplies rose 3.3 MMbbl for the week ended March 22. Analysts polled by Platts expected a 1.6 MMbbl climb.

Motor gasoline supplies fell by 1.6 MMbbl, matching analysts' expectations, while distillate stockpiles declined by 4.5 MMbbl, compared with forecasts for a decline of 700 Mbbl in distillate supplies. Following the latest data, May crude

Dow Jones Newswires

 

03/27/2013

 

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