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- Crude oil supplies fell by a less-than-expected 2.5 million barrels
Crude oil supplies fell by a less-than-expected 2.5 million barrels
According to marketwatch, oil futures extended their earlier losses Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies fell by a less-than-expected 2.5 million barrels for the week ended July 8. The American Petroleum Institute late Tuesday had reported a 2.2 million-barrel climb, according to sources, while analysts polled by S&P Global Platts expected a decline of 3.25 million barrels. Gasoline supplies rose 1.2 million barrels, while distillate stockpiles jumped by 4.1 million barrels last week, according to the EIA. August crude CLQ6, -2.33% fell 92 cents, or 2%, from Tuesday's settlement to $45.88 a barrel on the New York Mercantile Exchange. Prices traded at $46.25 before the data.
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