Oil futures added to earlier gains on Wednesday following weekly data from the U.S. Energy Information Administration showing that crude supplies fell by a more-than-expected 7.7 million barrels for the week ended Jan. 10.
Analysts polled by Platts were looking for a decline of 1.6 million barrels while the American Petroleum Institute late Tuesday reported a fall of 4.1 million barrels.
Gasoline supplies climbed 6.2 million barrels, while distillate stockpiles fell by one million barrels, the EIA said.
Gasoline stockpiles were expected to climb 1.7 million barrels while distillate supplies were seen up 1.3 million barrels, according to the Platts poll.
Following the latest data, February crude traded at $93.73 U.S. a barrel, up $1.14, or 1.2%, on the New York Mercantile Exchange. It was at $93.50 U.S. shortly before the report
