Crude-oil supplies fell 1.8 million barrels in the week ended Aug. 1, according to information released Wednesday by the U.S. Energy Information Administration.
The agency added that gasoline inventories were down 4.4 million, while distillates stockpiles decreased 1.8 million. Analysts polled by Platts had expected crude oil stocks to decline 1.9 million barrels. Gasoline supplies were seen down 700,000 barrels, and distillate supplies were expected to add 1.1 million barrels.
Crude-oil for September delivery advanced 41 cents, or 0.4%, to trade at $97.79 U.S. a barrel on the New York Mercantile Exchange. Futures settled Tuesday at a six-month low.
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