MW: U.S. crude inventories rise more than expected
U.S. crude inventories rose 3.3 million barrels in the week ended March 20, the Energy Information Administration reported Wednesday. Analysts surveyed by Platts had expected an increase of 1.4 million barrels. The EIA also reported gasoline inventories fell by 1.1 million barrels and distillate stockpiles, which include heating oil and diesel, declined by 1.6 million barrels. Analysts had expected a decline of 900,000 and 200,000 barrels, respectively. On the New York Mercantile Exchange, crude for May delivery fell 80 cents, or 1.5%, to $53.18 a barrel. It was down more than 2% before the data.
