: EIA reports gain in U.S. crude supplies last week
The Energy Information Administration on Wednesday reported that U.S. commercial crude inventories rose by 3.6 million barrels for the week ended Nov. 10 to total 439.4 million barrels. The government agency had delayed last week’s data due to a systems upgrade and reported on Wednesday a commercial crude supply total of 435.8 million barrels for the week ended Nov. 3. The EIA has also said it’s made changes to the way it collects its data. For the week ended Nov. 10, the EIA report revealed supply declines of 1.5 million barrels for gasoline and 1.4 million for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub fell by 1.9 million barrels last week, the EIA said. Oil futures continued their decline, with December West Texas Intermediate crude CLZ23 down $1.24, or 1.6%, at $77.02 a barrel on the New York Mercantile Exchange. Prices traded at $77.28 before the supply data.
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