MW: Crude stays lower after petroleum inventories data
Crude-oil futures stayed lower Wednesday after data showed U.S. gasoline inventories fell more than expected last week but crude inventories showed a surprise gain. Gasoline inventories decreased by 3 million barrels in the week ended March 6, the Energy Information Administration reported. Analysts surveyed by Platts had expected a reduction of 1.2 million barrels. Meanwhile, crude inventories rose by 700,000 million barrels, while analysts had expected a decline of 1 million barrels. After the data, April crude lost $1.33, or 2.9%, to $44.38 a barrel on the New York Mercantile Exchange.
