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By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures rallied Wednesday after a report showed a larger-than-expected weekly decline for inventories. Crude for August delivery CL1Q +1.49% added $1.37, or 1.6%, to $94.30 a barrel on the New York Mercantile Exchange. The contract had traded at $93.86 moments before the report. The Energy Information Administration reported a decline of 4.4 million barrels in crude inventories for the week ended June 24. Analysts polled by Platts had expected a decline around 1.7 million barrels. The EIA reported gasoline stocks down 1.4 million barrels, against expectations of an increase of 700,000 barrels. Supplies of distillates, which include heating oil and diesel, increased 300,000 barrels, the EIA said. The analysts surveyed had seen an addition of 1.8 million barrels.
