EIA reports a third straight weekly climb in U.S. crude supplies

The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 1.1 million barrels for the week ended Sept. 16. That marked a third weekly rise in a row for crude supplies, based on EIA data. On average, analysts expected a climb of 2.1 million barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA also reported weekly increases of 1.6 million barrels for gasoline and 1.2 million barrels for distillates The analyst survey had called for inventory declines of 1.6 million barrels for gasoline and 600,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub edged up by 400,000 barrels for the week, the EIA said. November West Texas Intermediate crude was up 19 cents, or 0.2%, at $84.13 a barrel on the New York Mercantile Exchange. It was at $84.30 before the supply data.

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