: EIA reports a weekly decline in U.S. crude supplies, but gasoline stockpiles rise
The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories fell by 1.3 million barrels for the week ended April 28. On average, analysts forecast a decline of 3.3 million barrels, according to a survey by S&P Global Commodity Insights. The EIA report showed a weekly inventory gain of 1.7 million barrels for gasoline while distillate stockpiles moved down by 1.2 million barrels. The analyst survey had forecast supply declines of 300,000 barrels for gasoline and 1.5 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub rose by 500,000 barrels for the week, the EIA said. June West Texas Intermediate crude CLM23 was down $2.95, or 4.1%, at $68.71 a barrel on the New York Mercantile Exchange. Prices traded at $69.12 before the supply data.
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