Oil futures climbed on Wednesday following weekly data from the U.S. Energy Information Administration showing a rise in crude and gasoline stockpiles along with a decline in distillate supplies.
The EIA reported that crude stockpiles for the week ended Sept. 27 rose 5.5 million barrels. Analysts polled by Platts were looking for a climb of 2.4 million barrels.
Gasoline supplies also rose 3.5 million barrels, while distillate stockpiles were down 1.7 million barrels, the EIA said.
Gasoline stockpiles were expected to fall 1.4 million barrels, while forecasts called for a decline of 1.8 million barrels for distillates.
Following the latest data, November crude traded at $102.96 U.S. a barrel, up 92 cents, or 0.9%, on the New York Mercantile Exchange. It was trading at $102.60 U.S. shortly before the report.
