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EIA reports weekly increases in U.S. supplies of crude, gasoline and distillates

The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 3.3 million barrels for the week ended July 8. On average, analysts expected an increase of 1.4 million barrels, according to a poll conducted by S&P Global Commodity Insights. The American Petroleum Institute on Tuesday reported a 4.8 million-barrel increase, according to sources. The EIA report also showed supply increases of 5.8 million barrels for gasoline and 2.7 million barrels for distillates. The analyst survey called for an inventory decline of 200,000 barrels for gasoline and an increase of 900,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub rose 300,000 barrels for the week, the EIA said. August West Texas Intermediate crude was down 22 cents, or 0.2%, at $95.62 a barrel on the New York Mercantile Exchange. It was at $95.27 before the supply data.

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