EIA data show weekly U.S. crude supplies up by nearly 10 million barrels

The Energy Information Administration on Wednesday reported that U.S. crude supplies rose by 9.9 million barrels for the week ended April 26. That surpassed the rise of 1.4 million barrels expected by analysts polled by S&P Global Platts. Data from the American Petroleum Institute on Tuesday had shown an increase of 6.8 million barrels, according to sources. The EIA data also showed that gasoline inventories edged up by 900,000 barrels, while distillate stockpiles fell by 1.3 million barrels last week. The S&P Global Platts survey had shown expectations for supply declines of 1 million barrels for gasoline and 1.2 million barrels for distillates. June West Texas Intermediate crude was down 47 cents, or 0.7%, at $63.44 a barrel on the New York Mercantile Exchange. It was trading at $63.58 before the supply data.

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