MW: Oil futures decline further after inventories data
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to losses Wednesday after weekly government supply data showed an unexpected increase for oil inventories. Crude for November delivery declined $1.37, or 1.6%, to $83.23 a barrel on the New York Mercantile Exchange. The Energy Information Administration reported an increase of 1.9 million barrels in oil supplies in the week ended Sept. 23. Analysts polled by Platts had expected oil inventories to be unchanged. The EIA also reported gasoline supplies rose 800,000 barrels, and distillates increased 100,000 barrels. The analysts surveyed by Platts had expected to see gasoline inventories up 1.2 million barrels, and inventories of distillates up 1 million barrels.
