: EIA reports weekly decline in U.S. crude supplies, product inventories rise

The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories edged down by 500,000 barrels for the week ended June 2. That compared to an average decline of 1 million barrels forecast by analysts polled by S&P Global Commodity Insights. The EIA report showed weekly inventory increases of 2.7 million barrels for gasoline and 5.1 million barrels for distillates. Analysts had forecast weekly climbs of 750,000 barrels for gasoline and 1 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub rose by 1.7 million barrels for the week, the EIA said.

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.