Oil prices slip as weekly U.S. crude supply jumps
Wednesday, 14 March 2018 21:55 WIB |
ENERGY |MinyakWTIUS Oil FuturesOil,
Oil prices moved slightly lower Wednesday after the U.S. Energy Information Administration said crude supplies rose by 5 million barrels for the week ended March 9.
Analysts surveyed by S&P Global Platts had forecast a climb of 2.5 million barrels, while the American Petroleum Institute on Tuesday reported a rise of nearly 1.2 million barrels, according to sources.
April crude fell 10 cents, or 0.2%, to $60.61 a barrel on the New York Mercantile Exchange, down from $60.95 before the supply data.
Gasoline stockpiles, however, dropped 6.3 million barrels for the week, while distillate stockpiles lost 4.4 million barrels, according to the EIA.
The S&P Global Platts survey forecast supply declines of 500,000 barrels for gasoline and 1.6 million barrels for distillates.