MW: U.S. crude-oil stocks down 6.3 mln barrels: EIA
By Saumya Vaishampayan
NEW YORK (MarketWatch) - The U.S. Energy Information Administration on Wednesday reported that crude-oil supplies fell 6.3 million barrels for the week ended May 31, to 391.3 million barrels. Analysts polled by Platts were looking for a 1-million barrel decline. Gasoline supplies fell by 400,000 barrels, while distillate stockpiles rose by 2.6 million barrels, the EIA said. Gasoline stockpiles were expected to rise by 1 million barrels, while forecasts called for a rise of 1.4 million barrels for distillates. Following the latest data, July crude CLN3 +1.00% traded at $94.35 a barrel, up $1.04, or 1.2%. It was trading around $93.92 shortly before the report. The American Petroleum Institute late Tuesday had reported a fall of 7.8 million-barrels in crude stockpiles.
