Crude extends gains after weekly supplies report (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures added to gains after the Energy Information Administration reported a smaller-than-expected increase in crude oil supplies for the week ended March 11. Crude for April delivery (clj11) most recently rose $1.87, or 1.9%, to $99.06 a barrel on the New York Mercantile Exchange. The EIA reported supplies rose 1.7 million barrels for the week. Analysts polled by Platts had expected a rise by 2.1 million barrels. The agency reported that gasoline supplies declined 4.2 million barrels; that compares with expectations around a decline of 1.5 million barrels, according to Platts. Distillates stocks decreased 2.6 million, the EIA reported. The analysts had expected distillate stocks down 1.4 million barrels.