MW: Crude supply rises less than 3 mln barrels: EIA
By Myra P. Saefong
SAN FRANCISCO (MarketWatch) -- Oil futures pared some of their losses Wednesday after the U.S. Energy Information Administration reported a smaller-than-expected climb in last week's crude inventories, along with a decline in distillate stockpiles. Crude supplies rose 2.6 million barrels for the week ended Feb. 1. Analysts polled by Platts expected a 3-million barrel climb. Motor gasoline supplies were up 1.7 million barrels, while distillate stocks fell 1 million barrels, the EIA report said. Analysts expected a 1.75 million-barrel climb in gasoline stocks, and forecast a fall of 750,000 barrels in distillate supplies. Following the latest data, March crude CLH3 -1.02% traded at $95.78 a barrel, down 86 cents, or 0.9%. It was trading around $95.70 ahead of the report. The American Petroleum Institute reported late Tuesday that crude supplies rose 3.6 million barrels last week.
