SAN FRANCISCO (MarketWatch) -- Crude-oil futures slightly pared gains Wednesday after the Energy Information Administration reported inventories of the product declined 4.8 million barrels in the week ended June 3. Analysts polled by Platts had expected a decline around 1.5 million barrels. The EIA also reported gasoline stockpiles rose 2.2 million barrels, and inventories of distillates added 800,000 barrels in the week. The analysts surveyed by Platts had expected an increase of 1.1 million barrels for gasoline stocks, and an increase for distillates stocks of 400,000 barrels. Crude oil for July delivery added $1.33, or 1.3%, to $100.47 a barrel on the New York Mercantile Exchange. It had traded around $100.70 a barrel shortly before the report was released.
