From Myra Saefong
: The Energy Information Administration on Wednesday
reported that U.S. crude supplies climbed by 7 million barrels for the week ended April 5. Analysts polled by S&P Global Platts expected a rise of 2.8 million barrels, following two consecutive weeks of increases. The American Petroleum Institute on Tuesday had reported a climb of 4.1 million barrels, according to sources. The EIA data, however, also showed that supplies of gasoline dropped by 7.7 million barrels, while distillates declined by 100,000 barrels last week, according to the EIA. The S&P Global Platts survey had shown expectations for supply declines of 1.9 million barrels for gasoline and 1.5 million barrels for distillates. May West Texas Intermediate crude CLK9, +0.95%
was up 33 cents, or 0.5%, at 64.31 a barrel on the New York Mercantile Exchange, little changed from before
the supply data's release.