The Energy Information Administration on Thursday reported that U.S. crude inventories rose by 1.7 million barrels for the week ended Dec. 30. On average, analysts forecasted a climb of 4.5 million barrels, according to a poll conducted by S&P Global Commodity Insights. Data were released a day later than usual this week due to Monday’s New Year’s holiday. The EIA also showed weekly inventory declines of 300,000 barrels for gasoline and 1.4 million barrels for distillates. The analyst survey had called for decreases of 1.6 million barrels for gasoline and 1.4 million barrels for distillates. Crude stocks at the Cushing, Okla., Nymex delivery hub rose by 300,000 barrels for the week, the EIA said. February West Texas Intermediate crude CLG23 was up 83 cents, or 1.1%, at $73.67 a barrel on the New York Mercantile Exchange. It was at $73.56 before the supply data.
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