Oil holds to gains after EIA inventories report

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In Response To: API shows surprise weekly decline for oil supplies *PIC* ()

Oil holds to gains after EIA inventories report (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures held on to gains Wednesday after a weekly government report showed an increase in oil inventories, with prices ticking up immediately after the report but then trading lower than before the data. Analysts polled by Platts had expected an increase of 1.3 million barrels. Crude for May delivery (clk11) added 24 cents, or 0.2%, to $108.53 a barrel on the New York Mercantile Exchange. It traded at $108.64 before the data. The Energy Information Administration reported crude inventories rose 2 million barrels in the week ended April 1. Gasoline supplies decreased 400,000 barrels, and distillates supplies increased 200,000 barrels.

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Oil holds to gains after EIA inventories report

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