Oil futures lost more ground on Wednesday after the U.S. Energy Information Administration said crude stockpiles fell 2.4 million barrels for the week ended July 4.
Analysts polled by Platts forecast a decline of three million barrels. Gasoline supplies rose by 600,000 barrels, while distillate stockpiles climbed by 200,000 barrels, according to the EIA.
Gasoline stockpiles were expected to fall by one million barrels, while distillates, which include heating oil, were seen up 1.2 million barrels, according to the Platts poll.
August crude traded at $102.42 U.S. a barrel, down 98 cents, or 0.9%, on the New York Mercantile Exchange. Before the report, prices traded at $102.60 U.S.
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