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Oil futures lose more ground after supplies data

Crude-oil futures added to losses Wednesday after a weekly government report showed a larger-than-expected increase in supplies.

Crude for October delivery was off $2.88, or 3%, to $92.42 U.S. a barrel on the New York Mercantile Exchange.

It traded at $92.98 U.S. before the report. The U.S. Energy Information Administration said crude inventories rose 8.5 million barrels in the week ended Sept. 14.

Analysts polled by Platts had expected an increase of 2.5 million.

The EIA also said gasoline stockpiles were down 1.4 million barrels, while distillates supplies were down 300,000 barrels.

The analysts surveyed by Platts had expected rises of one million barrels each for distillates and gasoline inventories