Oil gains on higher-than-expected supply drop *PIC*

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Oil gains on higher-than-expected supply drop (by Claudia Assis)

SAN FRANCISCO (MarketWatch) -- Crude-oil futures on Thursday got a boost from a weekly inventories report showing a higher-than-expected decline in supplies. Crude for October delivery (cl1v) added 67 cents, or 0.7%, to $89.98 a barrel on the New York Mercantile Exchange, trading near session highs. The Energy Information Administration reported a decline of 4 million barrels in oil inventories for the week ended Sept. 2, contrasting with expectations of a decline around 1.7 million barrels, according to analysts polled by Platts. The EIA reported gasoline supplies up 200,000 barrels, versus expectations of a draw of 900,000 barrels. Distillates inventories rose 700,000, in line with expectations of an increase of 600,000 barrels.

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