U.S. oil prices fall further after EIA reports a surprise weekly rise in domestic crude supplies 2018-06-06

The U.S. Energy Information Administration reported Wednesday that crude supplies climbed by 2.1 million barrels for the week ended June 1.


Analysts surveyed by S&P Global Platts had forecast a decline of 1.3 million barrels, while the American Petroleum Institute on Tuesday reported a fall of 2 million barrels, according to sources.


Gasoline stockpiles jumped by 4.6 million barrels for the week, while distillate stockpiles rose 2.2 million barrels, according to the EIA.


The S&P Global Platts survey forecast a supply decline of 600,000 barrels for gasoline, along with a climb of 700,000 barrels for distillates.


July crude CLN8, -0.73% was down 73 cents, or 1.1%, to $64.79 a barrel on the New York Mercantile Exchange, down from $65.43 before the supply data.