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Oil prices volatile after EIA supply data
Oil futures gained more ground then fell on Wednesday following weekly data that showed larger-than-expected climb in crude supplies, but less than what a trade group reported a day earlier. The U.S. Energy Information Administration said crude stockpiles rose 4 million barrels for the week ended April 4. Analysts polled by Platts were looking for a climb of 2.5 million barrels, while American Petroleum Institute data late Tuesday showed a jump of 7.1 million. Gasoline supplies fell by 5.2 million barrels, while distillate stockpiles rose 200,000 barrels, according to the EIA. Gasoline stockpiles were expected to ... (full story)