MW: Crude oil adds to losses after EIA inventory dataCrude oil adds to losses after EIA inventory data
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Crude-oil futures declined further Wednesday after a government weekly supply report showed a larger-than-expected increase in crude inventories. Oil for June delivery CLM11 -0.92% dropped $1.28, or 1.1%, to $111 a barrel on the New York Mercantile Exchange. The Energy Information Administration showed an increase of 6.2 million barrels on the week ended April 22. Analysts polled by Platts had expected an increase of 1.6 million barrels. The EIA showed a decrease of 2.5 million barrels for gasoline stockpiles, and a decrease of 1.8 million barrels for distillate inventories. The analysts surveyed by Platts had expected a decline of 1.5 million barrels for gasoline stocks and an increase of 650,000 for distillates, which include heating oil and diesel.
