MW: Oil rises further as no surprises in supplies data
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to gains after a government inventories report came in within expectations, with gasoline advancing as the update showed a surprise stockpile decline for the product. December crude oil advanced $1.02, or 1.2%, to $84.89 a barrel on the New York Mercantile Exchange. The Energy Information Administration said oil supplies rose 2 million barrels on the week ended Oct. 29, as analysts surveyed by Platts had expected. Stockpiles of gasoline declined 2.7 million barrels, the EIA said. That contrasts with estimates of an increase of 1.1 million barrels. Gasoline for December delivery added 3 cents, or 1.4%, to $2.14 a gallon.
