Oil supplies up 1.1 million barrels: EIA
Posted: Wed Feb 27, 2013 4:12 pmOil supplies up 1.1 million barrels: EIA
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- Oil futures traded modestly higher Wednesday after the U.S. Energy Information Administration reported a smaller-than-expected climb in last week's crude inventories and a drop in gasoline supplies. Crude supplies rose by 1.1 million barrels for the week ended Feb. 22. Analysts polled by Platts expected a 2.6 million-barrel climb. Motor gasoline supplies fell 1.9 million barrels, while distillate stockpiles climbed by 600,000 barrels, the EIA report said. Analysts expected a decline of 1.5 million barrels for gasoline stockpiles and a 1.7 million-barrel fall in distillate supplies. Following the latest data, April crude traded at $92.87 a barrel, up 24 cents, or 0.3%. It was little changed versus the pre-report level of $92.85. The American Petroleum Institute reported late Tuesday that crude supplies rose 904,000 barrels last week.
from MarketWatch.com - MarketPulse
SAN FRANCISCO (MarketWatch) -- Oil futures traded modestly higher Wednesday after the U.S. Energy Information Administration reported a smaller-than-expected climb in last week's crude inventories and a drop in gasoline supplies. Crude supplies rose by 1.1 million barrels for the week ended Feb. 22. Analysts polled by Platts expected a 2.6 million-barrel climb. Motor gasoline supplies fell 1.9 million barrels, while distillate stockpiles climbed by 600,000 barrels, the EIA report said. Analysts expected a decline of 1.5 million barrels for gasoline stockpiles and a 1.7 million-barrel fall in distillate supplies. Following the latest data, April crude traded at $92.87 a barrel, up 24 cents, or 0.3%. It was little changed versus the pre-report level of $92.85. The American Petroleum Institute reported late Tuesday that crude supplies rose 904,000 barrels last week.