NEW YORK (MarketWatch) -- Oil futures accelerated their decline Wednesday after government data showed an unexpected rise in crude supplies during the week ended May 29. The Energy Information Administration reported that U.S. commercial crude oil inventories rose by 2.9 million barrels last week, while analysts surveyed by Platts had expected a decline of 2 million barrels. The EIA also reported that total motor gasoline inventories decreased by 200,000 barrels last week, while distillate supplies rose by 1.6 million barrels. Analysts had expected a drop of 1.5 million barrels in gasoline stocks and a rise of 950,000 barrels in distillate supplies, according to the Platts survey. After the data, July crude futures fell $1.42, or 2.1%, to $67.14 a barrel on the New York Mercantile Exchange.
