EIA reports weekly rise in U.S. crude supplies, but gasoline stocks decline

The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 2.4 million barrels for the week ended Sept. 9. On average, analysts expected a climb of 1.2 million barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also said gasoline stockpiles declined by 1.8 million barrels last week, while distillate stocks rose by 4.2 million barrels. The analyst survey called for inventory declines of 1.6 million barrels for gasoline and 800,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub edged down by 200,000 barrels for the week, the EIA said. October West Texas Intermediate crude CLV22, +1.71% was up $1.08, or 1.2%, at $88.39 a barrel on the New York Mercantile Exchange. It was at $88.29 before the supply data.