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Crude supplies drop 7m: EIA

Oil futures stayed lower on Friday, after weekly data from the U.S. Energy Information Administration showed that crude supplies dropped by seven million barrels for the week ended Dec. 27.

Analysts polled by Platts were looking for a fall of 1.5 million barrels while the American Petroleum Institute late Tuesday reported a drop of 5.7 million barrels.

Gasoline supplies rose 800,000 barrels, while distillate stockpiles rose five million barrels, the EIA said. Gasoline stockpiles were expected to climb two million barrels while distillate supplies were seen up 600,000 barrels, according to the Platts poll.

Following the latest data, which were delayed by two days, due to the holiday, February crude traded at $94.64 U.S. a barrel, down 81 cents or 0.9% cents, on the New York Mercantile Exchange