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EIA reports a weekly decline of more than 9 million barrels in U.S. crude supplies
The Energy Information Administration reported Wednesday that U.S. crude inventories fell by 9.4 million barrels for the week ended Aug. 28, marking a sixth weekly decline in a row. That compared with an average forecast by analysts polled by S&P Global Platts for a fall of 1.2 million barrels. The American Petroleum Institute on Tuesday reported a drop of 6.4 million barrels, according to sources. The EIA data also showed crude stocks at the Cushing, Okla., storage hub edged up by about 100,000 barrels for the week. Gasoline supply, meanwhile, fell by 4.3 million barrels, while distillate stockpiles declined by 1.7 ... (full story)
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