Crude pares gains after EIA report shows increase (by Claudia Assis)
SAN FRANCISCO (MarketWatch) -- Crude-oil futures trimmed gains Wednesday after the government reported a larger-than-expected increase in oil inventories for the week ended March 4. Crude for April delivery (clj11) rose 2 cents to $105.04 a barrel on the New York Mercantile Exchange. The contract had traded at $105.17 moments before the report's release. The Energy Information Administration reported crude-oil supplies rose 2.5 million barrels. Analysts surveyed by Dow Jones Newswires had expected a rise of 600,000 barrels. The EIA reported decreases for gasoline and distillates supplies.