The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 19 million barrels for the week ended Jan. 6. On average, analysts forecasted a decline of 500,000 barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also showed a weekly inventory climb of 4.1 million barrels for gasoline, while distillate stockpiles edged down by 1.1 million barrels. The analyst survey had called for increases of 1.3 million barrels for gasoline and 500,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub rose by 2.5 million barrels for the week, the EIA said. February West Texas Intermediate crude CLG23 was up $1.86, or 2.5%, at $76.98 a barrel on the New York Mercantile Exchange. It was at $76.27 before the supply data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
