EIA data show hefty increase in U.S. crude supplies

From marketwatch.com

The U.S. Energy Information Administration on Wednesday reported that domestic crude-oil supplies rose by 5 million barrels for the week ended March 17. That marked the tenth increase in 11 weeks. The American Petroleum Institute late Tuesday reported a 4.5 million-barrel climb, according to sources, while analysts polled by S&P Global Platts forecast a rise of 2 million barrels. Gasoline supplies fell by 2.8 million barrels, while distillate stockpiles declined by 1.9 million barrels last week, according to the EIA. May crude CLK7, -1.14% lost 95 cents, or 2%, to $47.29 a barrel on the New York Mercantile ... (full story)