The Energy Information Administration on Wednesday reported that U.S. crude inventories fell by 1.7 million barrels for the week ended March 3. On average, analysts forecast an increase of 700,000 barrels, according to a survey by The Wall Street Journal. The EIA report showed a weekly inventory decline of 1.1 million barrels for gasoline, while distillate supplies edged up by 100,000 barrels. The analyst survey had forecast inventory declines of 1.4 million barrels for gasoline and 1 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub declined by 900,000 barrels for the week, the EIA said. April West Texas Intermediate crude clj23 was down 44 cents, or 0.6%, at $77.14 a barrel on the New York Mercantile Exchange. It was at $76.88 before the supply data.
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