EIA reports weekly declines in U.S. crude, gasoline and distillate supplies

The Energy Information Administration on Wednesday reported that U.S. crude inventories fell by 4.5 million barrels for the week ended July 22. On average, analysts expected a decline of 800,000 barrels, according to a poll conducted by S&P Global Commodity Insights. The American Petroleum Institute late Tuesday said U.S. crude supplies fell 4 million barrels last week, according to the Dow Jones Newswires. The EIA report also showed supply declines of 3.3 million barrels for gasoline and 800,000 barrels for distillates. The analyst survey called for inventory decreases of 1.1 million barrels for gasoline and 200,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub edged up by 700,000 barrels for the week, the EIA said. September West Texas Intermediate crude was up 42 cents, or 0.4%, at $95.40 a barrel on the New York Mercantile Exchange. It was at $95.20 before the supply data.

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