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EIA reported a 6.6 million-barrel rise in U.S. crude supplies

Wednesday, Apr 13 2016

Oil futures fell further on Wednesday after the U.S. Energy Information Administration reported a 6.6 million-barrel climb in crude-oil supplies for the week ended April 8. That topped the 6.2 million-barrel increase reported by the American Petroleum Institute, and was much higher than the climb of 1 million barrels expected by analysts polled by Platts.

Gasoline supplies fell by 4.2 million barrels, while distillate stockpiles rose by 500,000 barrels last week, according to the EIA. May crude CLK6, -1.71% was at $41.36 a barrel on the New York Mercantile Exchange, down 81 cents, or 1.9%. Prices traded at $41.65 before the data.

 

Euro is currently being traded few points below 1.13 handle, Sterling is around 1.4220 level, while Aussie is above 0.7650 area.

 

Source: MarketWatch.com

More in this category: « US Retail Sales unexpectedly fell in March Australian Unemployment Rate decreased to 5.7% »

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