The U.S. Energy Information Administration on Wednesday reported that U.S. crude oil supplies rose by 300,000 barrels for the week ended June 14, to 394.1 million barrels.
A Platts survey of analysts forecast a one-million-barrel decline. Gasoline supplies increased by 200,000 barrels, while distillate stockpiles fell by 500,000 barrels, according to the EIA.
Analysts were looking for a rise of 1.2 million barrels in gasoline inventories and an increase of 300,000 barrels in distillate supplies.
Following the latest data, July crude traded at $98.41 U.S. a barrel, down three cents. It was trading around $98.50 U.S. shortly before the report.
The American Petroleum Institute late Tuesday had reported a 4.3-million-barrel drop in crude stockpiles.
