The Energy Information Administration on Wednesday reported that U.S. crude inventories rose by 2.4 million barrels for the week ended Feb. 3. On average, analysts forecasted a climb of 2.1 million barrels, according to a poll conducted by S&P Global Commodity Insights. The EIA report also showed weekly inventory gains of 5 million barrels for gasoline and 2.9 million barrels for distillates. The analyst survey had forecast inventory increases of 1.6 million barrels for gasoline and 100,000 barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub climbed by 1.1 million barrels for the week, the EIA said. March West Texas Intermediate crude CLH23, +0.97% was up 32 cents, or 0.4%, at $77.46 a barrel on the New York Mercantile Exchange. It was at $77.77 before the supply data.
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