EIA reports weekly declines in U.S. crude and gasoline supplies

The Energy Information Administration reported on Wednesday that U.S. crude inventories fell by 3 million barrels for the week ended Aug. 20. On average, analysts polled by S&P Global Platts forecast a decline of 3.2 million barrels for crude stocks, while the American Petroleum Institute on Tuesday reported a 1.6 million-barrel decrease, according to sources. The EIA reported a weekly inventory fall of 2.2 million barrels for gasoline, while distillate stockpiles rose by 600,000 barrels. The S&P Global Platts survey forecast supply declines of 1.5 million barrels for gasoline and 400,000 barrels for distillates. The EIA data also showed crude stocks at the Cushing, Okla., storage hub edged up by 100,000 barrels for the week. October West Texas Intermediate crude CLV21, -0.06% was down 8 cents, or 0.1, at $67.46 a barrel on the New York Mercantile Exchange. Futures were trading at $67.20 before the supply data.

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