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TRD: Crude-Oil Futures Slip After U.S. Inventory Data
 
--Nymex crude down 5 cents at $98.39/bbl

--EIA says U.S. oil stocks up 300,000 barrels last week

--Analysts expected decline in stockpiles


By Sarah Jacob

NEW YORK--Crude-oil futures ticked lower Wednesday after the Energy Information Administration said U.S. oil inventories rose slightly last week, bucking expectations for a decline.

Light, sweet crude for July delivery recently traded down 5 cents, or 0.1%, at $98.39 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange for August delivery traded 15 cents higher at $106.17 a barrel.

Crude-oil inventories in the U.S. rose 300,000 barrels to 394.1 million barrels for the week ended June 14, the EIA said. Its weekly report said gasoline stockpiles rose by 200,000 barrels and stocks of distillates, which include heating oil and diesel, fell by 500,000 barrels.

Analysts expected crude stocks to have dropped by 400,000 barrels, according to a survey by Dow Jones Newswires. Analysts estimated that gasoline stockpiles rose by 1 million barrels, while stocks of distillate increased by 700,000 barrels last week.

Front-month July reformulated gasoline blendstock, or RBOB, recently traded 1.23 cents higher at $2.8916 a gallon. July ULSD heating oil recently traded 0.75 cents higher at $2.9691 a gallon.

Write to Sarah Jacob at sarahann.jacob@dowjones.com.
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