The U.S. Energy Information Administration on Wednesday reported that U.S. crude-oil supplies held steady for the week ended June 21 at 394.1 million barrels.
Analysts polled by Platts were looking for a two-million-barrel decline. The EIA added that gasoline supplies rose by 3.7 million barrels, while distillate stockpiles increased by 1.6 million barrels.
Gasoline stockpiles were expected to gain by one million barrels, and forecasts also called for a rise of one million barrels for distillates.
Following the latest data, August crude traded at $93.92 U.S. a barrel, down $1.40, or 1.5%. It was trading around $95.11 U.S. shortly before the report. The American Petroleum Institute late Tuesday had reported that crude stockpiles held steady.
