MW: Oil rises as inventories gain less than expected
Crude-oil futures rose Wednesday after government data showed U.S. crude inventories rose less than expected last week. Crude inventories increased by 600,000 barrels in the week ended May 1, the Energy Information Administration reported. Analysts at Platts had expected a buildup of more than 2 million barrels. Gasoline inventories fell by 200,000 barrels, while distillate stockpiles, which include heating oil and diesel, increased by 2.4 million barrels, the EIA reported. On the New York Mercantile Exchange, crude for June delivery rose $1.71, or 3.2%, to $55.55 a barrel.
